Report a scam

What to do before you invest

Do a reality check:

• Stop and ask yourself: "Is this for real?" Read the signs listed above and if any of them apply to your situation, write down your own list of reasons it could be a scam.
• Don’t assume something is safe just because a family member, friend, workmate, church leader or other trusted contact recommends it – they may be victims too, or scammers themselves.
• Don’t be tricked into thinking a company is legitimate because their advertising is on a credible website or social media platform, and be suspicious of ‘celebrity endorsements’.
• Ask family or friends what they think. See what someone you know who’s good with money thinks about what your suspicions. Others can help you ‘wake up’ to the reality of a scam.
• Check with your local Citizens Advice Bureau or budgeting advice service. They’re usually able to give free advice.

Do some digging:

• Search for the company on NZ’s online Financial Service Providers Register. If it is not there, they probably can’t provide financial services in NZ.
• Note any discrepancies in their bank details. If they say they’re in one country but their bank account is in a different country, it could be a scam.
• Check the website registration details. Use a “who is” web tool to find out who registered it, and when. If it wasn’t in a country where the business says it is based, and/or was recently set up when they claim to have been operating for years, be very suspicious.
• Reverse search any images on their website. Sites like Tineye.com let you copy and paste images into their search engine and they will tell you where else it’s been used.
• Ask to see the Public Disclosure Statement (PDS) for the investment. Almost all legitimate investments offered in NZ must have some form of disclosure document.

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