11 November 2022

Invest-nz.org: false and misleading statements

The FMA recommends undertaking due diligence and exercise caution before making any investment through invest-nz.org.

We are concerned that the website invest-nz.org contains false and misleading statements below about term deposits:

“Deposits protected up to $250,000”
“Term deposit is a specific type of low risk, government backed savings account”

We are aware that the government is considering a deposit guarantee scheme that is expected to be in place in 2023 if passed. The proposed guarantee scheme is inconsistent with the statements above. Information about the scheme can be found on Consumer NZ website.