FMA sees spike in investment scam complaints, issues more
warnings, since start of COVID-19

The Financial
Markets Authority (FMA) – Te Mana Tātai Hokohoko – is
warning New Zealanders to be on the lookout for three unique
types of scams that have been on the rise since the start of
COVID-19.

The warning comes as the FMA responds to a
rise in complaints about investment scams and fraud lodged
with the regulator in the first half of this year – up 79%
on the same period in 2020.

From
January to June 2021, the FMA received 158
complaints about investment scams and fraud – up 79% on
the 88 complaints received during the same period in 2020,
when the pandemic began, and up 49% on the 106 complaints in
the first half of 2019.

As a result, from January to
June 2021, the FMA issued 36 public warnings about suspected
scams and…

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