A scam offering fake term deposits and bonds using the name of Bank of America (Australia) is targeting New Zealanders.
Scammers are sending out highly professional looking product disclosure statements which feature the Bank of America’s name, address, logo and registration details.
People are being contacted by phone after putting details into deposit comparison websites. The FMA continues to warn about the dangers of these comparison websites – they are used by criminals to harvest information.
We recommend investors contact the relevant bank or financial institution through verified channels for confirmation before investing any money.