A young woman who lost $3000 to an online scammer touting a risky investment opportunity was among a spike in victims of scams taking advantage of the Covid-19 pandemic, the Financial Markets Authority says.

The woman , who asked not to be identified, reported the scam, becoming one of a growing number of people reporting online scams to the authority(FMA) Te Mana Tātai Hokohoko​.

The regulator said that in the first half of this year, reports of scams were up 79​ per cent compared to the same period last year.

From January to June, the FMA it received 158​ complaints about investment scams and fraud compared to 88​ on year ago.

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It led to a flurry of 36​ scam warnings from the regulator.

The FMA noticed a particularly large jump in people being directly contacted by scammers offering fake investments under false identities through social media websites.


Government agencies are gearing up to combat a barrage of vaccine-related scams expected to hit during the Covid-19 immunisation campaign.

The woman said she found the person posing as RayesMoore on LinkedIn plausible and pleasant.

Moore claimed to be an United States stockbroker and an expert in binary options, which are a risky way speculators beton the share and commodity markets.

The woman said she was attracted by the idea of…

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