Kiwis seeking financial advice online have lost millions of dollars in the last two weeks in a significant online investment scam currently targeting New Zealanders.
The scammers are using Google Ads to target potential investors, according to the Computer Emergency Response Team (CERT NZ).
People searching for terms such as “term deposit comparison nz” are then shown an ad from a malicious site claiming to offer advice on investments. The site is used to harvest details on individuals.
The scammers were using sophisticated social engineering tactics alongside some convincing fakes, says CERT NZ’s Manager of Threat and Incident Response, Jordan Heersping.
The scammers then call the targets claiming to be from the investment team at a New Zealand-based financial institution, and send a fake investment prospectus. The target is followed up with numerous phone calls and emails with fake contracts and instructions on how to send money.
“Some individuals have also been given a fake investment portfolio website to check their investments,” said Heersping. “These fake sites even require a login before showing a balance specific to the target, giving people a false sense of security and potentially sending more money to the scammers.”
None of the websites or email addresses used by the scammers are official sites of the banks.
“If you believe you may have been caught up in this scam then immediately contact your bank,” urged Heersping. “Use their official phone number or website. The banks are aware of this scam and their fraud teams are on alert to help you, but the sooner you act the better.”
If you have come across or interacted with any of these malicious sites, you should report to CERT NZ to take down such sites.
Their advice is to stay vigilant, exercise due diligence and double-check with banks directly if offers are real.
CERT NZ team works to support businesses, organisations and individuals who are affected (or may be affected) by cyber security incidents.
