New
Zealand’s financial markets watchdog has joined a newly formed alliance aimed
at tackling the country’s growing scam problem, as regulators ramp up efforts
to protect investors from fraudulent schemes.
New Zealand Financial
Regulator Joins Anti-Scam Alliance
The
Financial Markets Authority (FMA) announced its participation in the New
Zealand Anti-Scam Alliance, a joint operational partnership that brings
together multiple agencies to coordinate responses to scam activity. The move
comes as the FMA reports issuing
110 new warnings about suspicious investment schemes in the 12 months
ending June 30, 2025.
Clare
Bolingford, the FMA’s Executive Director for Licensing and Conduct Supervision,
said the regulator views collaboration as essential in fighting scams.
“Collaboration is a vital factor in the fight against scams. We look
forward to playing our part in the Alliance,” she said.
The FMA has
made disrupting scam activity one of its key regulatory priorities as it works
to maintain confidence in New Zealand’s financial markets. The regulator says
it wants to help “investors and consumers to make good decisions, know
their rights and know how to protect themselves.”
Meanwhile,
the regulator issued a warning about a new type of scam that
uses fake economic surveys to target victims before directing them to
fraudulent trading platforms, including those offering CFDs.
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also like: Kiwis
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A Response to Increased
Fraud Activity
The FMA
already works with other local and international regulators and cyber safety
agencies, including the National Cyber Security Centre, to share intelligence
and disrupt investment scams. Bolingford described the new alliance as “a
significant move forward in a co-ordinated New Zealand response to scams.”
Beyond
issuing warnings, the FMA has identified hundreds of websites that investors
should avoid and has taken action to disrupt these sites and their content. The
agency shares its warnings through its website, social media channels, and with
finance industry participants, as well as through the International Securities
& Commodities Alerts Network portal.
The
formation of the alliance reflects growing concern about scam activity
targeting New Zealand investors and consumers. While the FMA’s announcement
doesn’t specify which other agencies are part of the alliance, the regulator’s
emphasis on coordination suggests a broader government response to the problem.
Also this
week, New
Zealand announced plans to ban crypto ATMs and impose a NZ$5,000 cap on
international cash transfers in an effort to curb money laundering and related
scams.
New
Zealand’s financial markets watchdog has joined a newly formed alliance aimed
at tackling the country’s growing scam problem, as regulators ramp up efforts
to protect investors from fraudulent schemes.
New Zealand Financial
Regulator Joins Anti-Scam Alliance
The
Financial Markets Authority (FMA) announced its participation in the New
Zealand Anti-Scam Alliance, a joint operational partnership that brings
together multiple agencies to coordinate responses to scam activity. The move
comes as the FMA reports issuing
110 new warnings about suspicious investment schemes in the 12 months
ending June 30, 2025.
Clare
Bolingford, the FMA’s Executive Director for Licensing and Conduct Supervision,
said the regulator views collaboration as essential in fighting scams.
“Collaboration is a vital factor in the fight against scams. We look
forward to playing our part in the Alliance,” she said.
The FMA has
made disrupting scam activity one of its key regulatory priorities as it works
to maintain confidence in New Zealand’s financial markets. The regulator says
it wants to help “investors and consumers to make good decisions, know
their rights and know how to protect themselves.”
Meanwhile,
the regulator issued a warning about a new type of scam that
uses fake economic surveys to target victims before directing them to
fraudulent trading platforms, including those offering CFDs.
You may
also like: Kiwis
Want High Returns But 70% Keep Cash Under the Mattress
A Response to Increased
Fraud Activity
The FMA
already works with other local and international regulators and cyber safety
agencies, including the National Cyber Security Centre, to share intelligence
and disrupt investment scams. Bolingford described the new alliance as “a
significant move forward in a co-ordinated New Zealand response to scams.”
Beyond
issuing warnings, the FMA has identified hundreds of websites that investors
should avoid and has taken action to disrupt these sites and their content. The
agency shares its warnings through its website, social media channels, and with
finance industry participants, as well as through the International Securities
& Commodities Alerts Network portal.
The
formation of the alliance reflects growing concern about scam activity
targeting New Zealand investors and consumers. While the FMA’s announcement
doesn’t specify which other agencies are part of the alliance, the regulator’s
emphasis on coordination suggests a broader government response to the problem.
Also this
week, New
Zealand announced plans to ban crypto ATMs and impose a NZ$5,000 cap on
international cash transfers in an effort to curb money laundering and related
scams.
This post is originally published on FINANCEMAGNATES.
