A young woman who lost $3000 to an online scammer touting a risky investment opportunity was among a spike in victims of scams taking advantage of the Covid-19 pandemic, the Financial Markets Authority says.

The woman , who asked not to be identified, reported the scam, becoming one of a growing number of people reporting online scams to the authority(FMA) Te Mana Tātai Hokohoko​.

The regulator said that in the first half of this year, reports of scams were up 79​ per cent compared to the same period last year.

From January to June, the FMA it received 158​ complaints about investment scams and fraud compared to 88​ on year ago.

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It led to a flurry of 36​ scam warnings from the regulator.

The FMA noticed a particularly large jump in people being directly contacted…

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