CERT NZ report shows investment scams costing Aotearoa millions every month

Dec 7, 2023

The latest reporting from CERT NZ shows losses from cyber security incidents between July and October totalling nearly $5 million, with the majority coming from scams and frauds.

Woman sitting at desk holding documents and smiling

Of the 11 reports to CERT NZ with financial losses over $100,000, around half relate to a scam involving a job, business, or investment opportunity. The Cyber Security Insights report for quarter three (1 July – 30 September 2023), focusses on these types of scams and the new tactics being used to target unwary New Zealanders.

"We've seen increasingly complex and deceptive tactics from these criminals, particularly around investment scams," Director of CERT NZ Rob Pope said.

"Fake financial websites, chat groups with fake investors pushing you to put in more money, realistic financial prospectuses all designed to target New Zealanders looking for a place to invest."

CERT NZ has also noticed a rise in job scams. This is where a fake job listing is advertised resulting in applicants giving personal information and, often, money and financial details as well.

"It's clear that scammers are using the current economic uncertainty to their advantage," Pope said.

 "We're asking that New Zealanders stop and pause before jumping into these offers and potentially opening themselves up to real loss."

The report gives lists of red flags to look out for and ways to keep yourself and your whānau safe from scammers.

"As the holiday season ramps up, everyone at CERT NZ wants to make sure that it's a safe one online for everyone across the country, from businesses to individuals."

Quarter three: Cyber Security Insights 2023