Based on your report it looks like you may have received an investment scam call. Take a look at the information below for advice on what steps you should take to stay safe.
HOW THIS SCAM WORKS AND WHAT IT LOOKS LIKE:
Scammers call people claiming they have registered their interest in an investment scheme or other financial products. They might say you’re obligated to deposit money, or that you are sure to see a large return, but these calls are scams.
Money that’s ‘invested’ with them is kept by the scammers. If they’re more sophisticated they might even send you fake updates about how these bogus investments are performing.
WARNINGS AND ADVICE FROM NEW ZEALAND AGENCIES:
The Financial Markets Authority (FMA) here in New Zealand explain:
"In New Zealand it’s illegal to sell financial products off the back of a cold call. If you receive an unexpected call about an investment opportunity, hang up straight away. Don't engage the caller as they'll use their skill to persuade you to part with your money."
The FMA also publish a list of suspected scams which you can check to see if the platform you’ve engaged with has been reported to them. Please be aware that even if an investment platform doesn’t appear on this list, it does not mean that it is genuine. You can find this list here.
The only advice Netsafe can share about investing is the same as the advice from the New Zealand Police. The New Zealand Police say:
“New Zealand Investors seeking to invest in overseas shares should only use New Zealand Brokers who are bound by New Zealand Law. Brokers will be registered with the Companies Office in the Financial Service Providers Register at www.fspr.govt.nz”
WHAT TO DO IF YOU’VE BEEN CALLED:
Hang up the phone. It’s important that you don’t engage with the scammer at all. Even if you don’t share any information or pay any money to them, if you continue to speak to them on the phone this can encourage them to continue to contact you.
Our phone numbers are often able to be sourced online and scammers do then use them. You can log the calls over a week with the time and date and if you get 3 or more calls, let your service provider know and they may be able to assist.
Netsafe understands these scammers may be using publicly listed contact information on the internet and even social media to find people to call. It can be a good idea to review your social media privacy settings to check if your phone number is being shared publicly.
WHAT TO DO IF YOU’VE SHARED PRIVATE INFORMATION OR BANK DETAILS:
- If you have shared any bank account information you should report the incident to your bank immediately. This includes credit card information.
- If you have sent money using your credit card you can speak to your bank about applying for a charge back.
If you have sent money via an online money transfer platform (such as Bitcoin) the transaction is likely untraceable, and you may not be able to get your money back.
- If you have shared any sensitive personal information, this Identity Theft Checklistis a helpful guide on what could happen with your information. If you believe you may have been exposed to identity theft, we suggest you contact iDCare as they provide free help and support.
IF YOU’VE LOST MONEY:
Unfortunately, these investment schemes are generally operated from overseas and there is limited recourse available to agencies here in New Zealand. You can consider making a complaint at your local Police Station as well as notifying your bank.
You also have the option of making a complaint to the Financial Markets Authority here in New Zealand.
“Reporting is important. We can give you advice specific to your situation or put you in touch with someone who can. Reporting also helps others avoid this kind of scam as reports enable us to track trends and issue warnings. Report the scam to us on 0800 434 566 or use our online complaints form.”
You can find more information about what you can do if you’ve been targeted with an investment scam from their website here.
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