Recently, the Financial Markets Authority (FMA) has warned of a surge in impersonator investment scams. These scams use fake ads and even AI-generated “deepfake” videos of well-known New Zealanders to lure people into bogus investment groups and platforms.
At National Capital, we care about your long-term financial wellbeing. While our focus is KiwiSaver, we want every Kiwi to make informed decisions about their money and stay protected from scams that can affect all types of investments.
How the scam works
- Scammers create fake social media profiles, often using deepfake videos of well-known figures.
- These ads lure people into joining “investment advice” WhatsApp groups.
- Inside the groups, supposed mentors or coaches share trading tips and recommend certain investment platforms.
- Victims may be asked to install malware or remote access software, giving scammers access to personal and financial information.
- After investing, victims are told they must pay additional fees to withdraw their money.
- Even when fees are paid, no money is ever returned.
FMA’s advice to stay safe
According to the Financial Markets Authority (FMA), if you see investment ads on social media using the image of well-known people, you should:
- Don’t share personal details, click unknown links, or download apps from suspicious sources.
- Don’t provide money.
- Report the ad to the social media provider.
- Visit the FMA’s warnings page and to report at [email protected] or on website at www.fma.govt.nz
The FMA recommends taking these immediate steps if you believe you’ve been targeted:
- Cut all contact with the scammers.
- Call your bank right away to see if a payment reversal is possible.
- If you’ve installed software on their instruction, get your device checked by an IT professional.
- Report ongoing calls to your phone provider and spam texts/emails to the Department of Internal Affairs.
- Seek support from trusted friends, family, or Victim Support (0800 842 846).
- Visit the FMA’s warnings page and to report at [email protected] or on website at www.fma.govt.nz
Why we’re sharing this
As scams grow more sophisticated, any investment scheme — including KiwiSaver — could be exposed to misinformation or manipulation. The key takeaway is clear: protecting your money requires vigilance and trusted advice, and not all financial guidance is impartial, regulated, or in your best interest.
At National Capital, our licensed, impartial KiwiSaver advice is designed to help you make smart, safe investment choices with confidence.
It only takes a few minutes to check your KiwiSaver — it could transform your financial future.
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About National Capital
National Capital is a New Zealand–owned impartial KiwiSaver advice service based in Auckland and Christchurch, serving clients nationwide. We analyse 300+ KiwiSaver funds to recommend the option that best matches your goals, risk profile, and timeline. We also manage the fund-change process at no extra cost—helping Kiwis choose the best KiwiSaver fund for long-term returns, first-home planning, and retirement confidence.