ANZ Warns of Fake Investment Ads Targeting Older Kiwis on Social Media

ANZ has warned New Zealanders about a recent wave of social media investment scams that misuse its name and branding.

Fraudsters are running ads that look like they come from ANZ, complete with the bank’s logo, promoting a supposed stock‑market education programme. These adverts are not from ANZ — legitimate ads would come from the verified ANZ Aotearoa account.

When users click on these ads, they’re directed to WhatsApp “investment advice” group chats. Inside, they’re pressured to invest money — what appears to be a coordinated scam.

These fake schemes may be tied to a “pump-and-dump” scam identified by the Financial Markets Authority (FMA). In pump‑and‑dump fraud, scammers hype up a company’s shares (the “pump”) and then sell their own holdings after the price is artificially inflated (the “dump”), leaving others with heavy losses.

Who is most at risk?

• Investment scams are particularly common for older customers. For people aged 66‑74, about 20% of scam reports involved investment fraud. For those 75 and over, it was around 10%.
• ANZ’s Head of Customer Protection, Alan Thomsen, said scammers adapt their tactics by age: younger people are more likely to fall victim to online shopping scams, while older people are more likely to be targeted by investment scams.

How ANZ is responding & advising people to stay safe

• ANZ has reported the fake ads to social media platforms for removal, and is working alongside the FMA to monitor for similar activity.
• They have rolled out additional security tools, including blocking phishing websites, using Confirmation of Payee, adding a Dynamic Security Code, and leveraging ANZ Payment Check with Visa Secure.
• Key red flags to watch for include:
  • Ads promising high-speed or low-risk investment returns
  • Pressure to invest quickly to “not miss out”
  • Requests to join chat groups for “investment advice”
  • The person or business offering the advice is not registered with New Zealand regulatory bodies

Advice for New Zealanders:

1. Do your research — check the business, the people behind it, and whether they are regulated
2. Don’t rush — if there’s high pressure to invest quickly, be very cautious
3. Verify contact details — use only official numbers or websites to follow up, not those provided in unsolicited messages
4. Get independent advice — talk to a licensed financial adviser before committing any money

If you believe you’ve encountered one of these scams, ANZ advises calling immediately on 0800 269 296 (or +64 4 470 3142 from overseas).