FMA Warns Investors About Fraudulent AI Deepfake Trading Scams
Summary
The Financial Markets Authority in New Zealand issued a warning about increasing fraudulent trading platforms using AI-generated deepfakes of NZ politicians and business leaders to lure investors. The FMA identified 110 scam ads on Meta platforms in a single 24-hour period and flagged over 190 fake trading websites since March 2026. Consumers are advised to avoid clicking investment ads featuring high-profile New Zealanders and to never provide personal information to unverified platforms.
What changed
The FMA issued a consumer warning about investment scams using AI deepfakes and fake news articles to promote fraudulent trading platforms. Scammers impersonate NZ politicians and business leaders including Winston Peters, Kiwibank CEO Steve Jurkovich, and Westpac CEO Catherine McGrath to lend credibility to fake investment opportunities. The scams direct victims to register on fake platforms, show manipulated profits to encourage larger investments, and demand fees before any withdrawal.
Investors and financial advisers should remain vigilant for these schemes, which represent an escalation in social engineering tactics targeting the NZ public. The FMA has been coordinating with platforms to remove fake ads and websites, but new variants continue to emerge. Anyone who has already provided information or transferred funds should contact their bank immediately and report the incident to authorities.
What to do next
- Do not click on investment ads featuring NZ politicians or business leaders
- Do not enter personal information into unverified investment websites
- Contact your bank immediately if you have transferred money to suspected scammers
Archived snapshot
Apr 8, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Back 08 April 2026
FMA warns of fraudulent trading platforms using fake news articles to entice investors
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MR No. 2026 – 12
The Financial Markets Authority – Te Mana Tātai Hokohoko (FMA) is warning consumers about an increasing number of scams using fake news articles featuring prominent politicians and business leaders to entice consumers to invest in fake trading platforms.
Samantha McGuire, Manager Regulatory Services, says the scammers are using artificial intelligence to create deepfake images and videos featuring likenesses of politicians and business leaders to create a sense of credibility.
“We recommend exercising extreme caution when engaging with online content promoting investment opportunities, particularly when it uses images of high-profile New Zealanders. This isn’t a new scam, we first warned about these tactics in August 2024, but we’ve recently seen a significant increase in ads, fake news articles and fake investment platform websites linked to the scam.
“The current wave features clickbait headlines claiming to have information that authorities don’t want revealed. Individuals impersonated using deepfakes include Rt Hon Winston Peters, Kiwibank CEO, Steve Jurkovich and Westpac CEO, Catherine McGrath. But the scammers continuously switch the identities they’re impersonating, so stories may still be fake if they feature a different individual,” Ms McGuire warns.
The FMA identified 110 ads linked to the scam published in one 24-hour period on Meta sites. Since the start of March this year, over 190 of these fake trading platform websites have been identified and flagged for removal.
How the scam works
Scammers use fake articles on social media and news aggregators featuring images or deepfake videos of New Zealand politicians, business leaders and other public figures, along with fake claims to generate interest. The fake articles use the logos of real news sites including RNZ, TVNZ and the NZ Herald but the articles they link to contain false endorsements of investment platforms.
These articles direct users to websites where victims are asked to register their contact details. Scammers then contact victims posing as investment brokers, and refer them to fake platforms, where victims are encouraged to make an initial small investment (around US$250).
Victims are shown manipulated profits to pressure them into investing more. When victims try to withdraw funds, they are told to pay fees, but no money is ever returned.
“Do not click on these ads or links, and do not enter your personal information into these websites. If you have been contacted by a scammer after entering your personal information into one of these websites, block the contact, do not transfer any money to the scammers,” says Ms McGuire.
What to do if you think you have been scammed
- Contact your bank or payment provider immediately. Ask if a transaction reversal is possible.
- If you have downloaded remote access software on the instructions of the scammers, immediately contact an IT professional to have your device checked for malware. If you have accessed your bank account or other payment systems while the remote access software was operating on your device, report this to the relevant account providers.
- If you are receiving phone calls from scammers, block their numbers and report them to your telecommunications provider. See the NZ Telecommunications Forum’s instructions for reporting scam calls.
- If you are getting spam emails and text messages, report these to the Department of Internal Affairs.
- Tell a trusted relative or friend what has happened. They may help you see the situation more clearly, help you deal with the scammers, and suggest what to do next.
- Contact Victim Support on 0800 842 846. They can provide free emotional and practical support and information.
Read the updated warning on our website here.
Ends
Media contact: [email protected] **** Non-media queries: [email protected]
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Source document text, dates, docket IDs, and authority are extracted directly from FMA NZ.
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