FMA are concerned that a scam operation, claiming to be offered by the NZ Super Fund, is targeting New Zealand residents, and offering grants and the opportunity to purchase cryptocurrency assets.
The New Zealand Super Fund is a sovereign wealth fund that is responsible for investing money the government puts aside to be paid for superannuation in the future. It does not offer investments to individuals, nor does it sell cryptocurrency assets online.
FMA also warns New Zealand consumers and investors to be wary of unsolicited communication, claiming to be from the NZ Super Fund, offering a significant share of a large sum of money, in return for a small up-front payment. In New Zealand selling financial products through unsolicited communication is not permitted.