First Date Published: 06 August 2024
The FMA has received multiple reports about a scam using fake endorsements from New Zealand politicians. The politicians’ names and images are being misused by scammers in fabricated news articles and deepfake videos to promote fake online investment schemes.
New Zealanders who have invested through these fake online investment schemes are not able to withdraw their funds and can lose considerable amounts of money.
This scam uses fake news stories, multiple websites and advertisements promoting different phoney investment schemes.
Examples of fake news stories include:
- Claims that New Zealanders will receive “income” or “dividend” payments from Inland Revenue Department (IRD). The IRD has confirmed these claims are false. There is no pool of tax funds becoming available for distribution to New Zealanders.
- Claims that pension payments have been cancelled. These stories are designed to promote fear about the stability of New Zealand’s superannuation system.
- Claims that the government has significantly lowered the retirement age.
- Claims that the government or politicians are endorsing specific investment opportunities for New Zealanders.
