Barox International and others – Unsolicited phone calls promoting fake investment platforms

How the scam works:

1. The victim receives a phone call, asking them to participate in a survey, with questions about confidence in the New Zealand economy. Scammers use these calls to gather personal information.

2. A few days or weeks later, the scammer calls the victim from a different phone number, promoting an exciting investment opportunity. The scammers may give convincing and professional investment information to persuade the victim to invest. 

3. The scammers will eventually direct the victim to an online trading platform where they can invest money. Such trading platforms are fake. 

4. These scammers are familiar with New Zealand’s banking systems, and may coach their targets through making their first ‘investment’.

5. When the victim tries to withdraw funds, no money is returned. The platform may ask for fees or payments to release the money. But even if these payments are made, no money is paid out.