Find financial news and analysis across NZ and Australia.
11 results for “scams”
Investment scam losses in New Zealand more than doubled to $81,500 in April 2026, with the average loss per victim surging to over $20,000 as deepfake technology becomes more prevalent.
Commonwealth Bank has issued a critical alert warning investors of sophisticated 'pump and dump' schemes using AI deepfakes and fake social media ads to target Australians.
New Zealand's FMA and Westpac NZ have issued a major alert following a spike in AI-driven deepfake scams. With 64% of bank fraud now originating on social media, authorities are calling for greater platform accountability.
The Customer Owned Banking Association has warned Australians of sophisticated phishing scams exploiting the fuel crisis to steal credit card information.
A UK national has pleaded guilty to fraud and shoplifting charges in Auckland after a local couple was scammed out of $27,000 for uncompleted house painting. Police have issued an arrest warrant for his associate who fled the country.
The Financial Markets Authority has issued a high-risk warning for Swift Wave Global, a Ponzi-style scam linked to the collapsed BG Wealth Sharing scheme. Regulators report over $150 million in global losses associated with this fraudulent network.
QR code-based 'quishing' scams have more than doubled in New Zealand, now making up 9.3% of all detected cyber threats. Scammers are currently exploiting a new NZ$2.54 import charge to trick mobile users into visiting fraudulent payment sites.
AUSTRAC has issued a major warning regarding a 45% surge in AI-assisted illicit flows, prompting lenders to implement automated fraud detection. New AML/CTF regulations are set to take effect on July 1, 2026, to combat increasingly sophisticated financial crime.
An Auckland man has recovered $19,300 after falling victim to a sophisticated SIM swapping scam that targeted his ANZ bank account. The incident has prompted One NZ to implement a new 15-minute delay on SIM transfers.
Regulators have issued urgent warnings to the A$4.2 trillion superannuation sector to bolster cyber resilience following historical breaches and new AI-powered threats. The move follows the 2025 credential stuffing attacks where A$500,000 was stolen from member accounts.
The New Zealand Government has introduced the Fair Trading Amendment Bill, proposing to raise corporate penalties for misleading pricing to $5 million or three times the commercial gain. The legislation aims to deter deceptive practices and protect consumers from pricing errors that cost tens of millions of dollars annually.