The New Zealand Financial Markets Authority (FMA) issued a consumer warning about an increase in scams that use fake news articles and artificial intelligence-generated deepfakes of prominent politicians and business leaders to lure people into investing through fake trading platforms. The FMA said the current wave uses clickbait headlines and fake claims that authorities are suppressing information, with deepfaked impersonations including Rt Hon Winston Peters, Kiwibank CEO Steve Jurkovich and Westpac CEO Catherine McGrath, while noting the identities used can change. It identified 110 ads linked to the scam published in a 24-hour period on Meta sites and, since the start of March, more than 190 fake trading platform websites that it has flagged for removal. The scam typically uses logos of legitimate news brands including RNZ, TVNZ and the NZ Herald, directs users to provide contact details, then involves follow-up by scammers posing as brokers who encourage an initial investment of around USD 250, display manipulated profits to prompt additional deposits, and demand further fees when victims attempt withdrawals without returning any funds. The FMA advised consumers not to click on the ads or links, not to enter personal information on the websites, and to block contacts if approached. For suspected victims, it recommended contacting banks or payment providers immediately to explore transaction reversal options and taking steps to address potential device compromise if remote access software has been installed.
New Zealand Financial Markets Authority 2026-04-08
New Zealand Financial Markets Authority warns of surge in deepfake investment scams tied to 110 Meta ads and 190 fake trading websites
The New Zealand Financial Markets Authority issued a consumer warning about a surge in scams using fake news articles and AI-generated deepfakes of prominent figures to promote fake trading platforms. The authority reported over 110 related ads on Meta sites in 24 hours and more than 190 fake trading websites since early March, and urged consumers not to engage with such ads or provide personal information, and for suspected victims to contact banks or payment providers immediately.