Latest scams

Latest scams

Investment scams: Cryptocurrency

We're observing a significant increase in cryptocurrency transactions, which is being accompanied by a growing number of individuals being targeted by fraudulent cryptocurrency investment schemes, particularly through social media platforms.

These scams often involve misleading offers of high returns or exclusive opportunities, luring users into making investments or sharing personal and financial information.

As the popularity of cryptocurrency continues to rise, it's more important than ever for users to stay alert and cautious, actively recognising and steering clear of misleading practices.

Investment scams: Term deposit and bond investment rates

These scams target people who've been searching for the best term deposit or other investment rates via search engines. Fraudulent comparison websites, such as ratesfinder.co.nz, nzcomparerates.com and comparetermdepositsnz.com, are set up purely to collect the contact details of people who are interested in making an investment or rolling off an existing term deposit soon.

After inputting details into a fraudulent website, the scammer will follow up with a phone call or email. They might even reference a genuine Kiwibank staff member's name and potentially send a fake Kiwibank-branded document containing information on term deposits.

Recent incidents have been reported where fraudsters are claiming to work for a well-known New Zealand investment management firm and are offering investments in Heartland Bank bonds. Learn more about this scam and others on the Financial Markets Authority website.

Impersonation scams: New Confirmation of Payee service

The New Zealand banking industry is soon launching Confirmation of Payee, a new service that checks if the account owner name matches the account number of the person or business you're paying. This helps you spot potential scams and reduces the risk of sending money to the wrong person.

However, be aware that scammers may take this opportunity to contact you, pretending to be a bank employee with information about the new service. We will be emailing customers with information about the service, however these communications will not ask you to provide us with any information to make this service work. You will see it automatically applied to your online banking. Stay vigilant to avoid falling victim to impersonation attempts.

Impersonation scams: Phone calls

We’re seeing a lot of phone scams targeting customers, claiming to be from Kiwibank. These calls can come from 0800, local or overseas numbers and ask you for your banking login details, passwords or authentication codes.

We’ll never ask for your passwords, KeepSafe questions and answers, PIN, one-time PIN or card details over the phone. We’ll always verify your identity in other ways to ensure your personal information and accounts are kept safe.

If you're ever unsure whether a call is legitimate, ask for a name or reference number and call us back on 0800 113 355 (or +64 4 473 1133 from overseas).

Impersonation scams: Phishing & smishing

We've been seeing a notable increase in text and email phishing scams impersonating Kiwibank, NZTA and NZ Post.

These texts and emails often look legitimate. They generally include a fraudulent link that will take you to a webpage or form that asks you to input personal or banking details which will be used by scammers.

Example: Kiwibank text scam

This scam appears to be sent from a 'short code' used by telcos, banks, and other legitimate organisations. More information on this scam is available on Own Your Online by CERT NZ.

Example: NZTA impersonation text scam

Example: NZ Post impersonation text scam

What to do

• Scam text messages: If you receive a text message that you think could be a scam, forward the text to 7726.
• Scam emails: Forward suspicious emails to suspicious.email@kiwibank.co.nz then delete it.
• All scam types: Call us on 0800 113 355, or send us a secure message within internet banking or the mobile app.