NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Personal Finance

Diana Clement: Scams are as rife as ever

Diana Clement
By Diana Clement
Your Money and careers writer for the NZ Herald·Herald on Sunday·
17 Oct, 2020 04:00 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Common targets for scammers are construction, law, or financial services firms. Photo / 123RF

Common targets for scammers are construction, law, or financial services firms. Photo / 123RF

Diana Clement
Opinion by Diana Clement
Diana Clement is a freelance journalist who has written a column for the Herald since 2004. Before that, she was personal finance editor for the Sunday Business (now The Business) newspaper in London.
Learn more

OPINION:

Scams are on the up and Kiwis keep falling for them. Scams have exploded this year, taking advantage of Kiwis' fears around Covid-19 and their finances. Here are the top five to watch out for in 2020:

Business email compromise

This is a huge problem in New Zealand right now and you can lose large sums of money. How it works is a scammer worms his or her way onto the server of a company that takes large payments. Common targets are construction, law, or financial services firms. I reported in an article for the Auckland District Law Society about a Wellington-based oncologist who went unconditional on a property on a Friday, and received an email almost immediately asking for immediate payment into an ASB account that weekend. The scammer had been sitting on his financial adviser's server, saw emails CCed from the lawyer, and sent the demand for money. Fortunately the victim hesitated at the last second.

Advertisement
Advertise with NZME.

Foreign exchange scams

The Australian Securities and Investments Commission reported a 20 per cent up-turn in investing scams after the pandemic hit. Our own Financial Markets Authority is issuing new alerts every few days. Since the markets went into turmoil in February/March, thousands of ordinary Kiwis have jumped on the investing bandwagon. The fear of missing out (FOMO) makes them vulnerable to scams. "People are desperate to make some money (during the pandemic), says Bronwyn Groot, security consultant at QRisk. The FX scammers place online adverts saying that well known figures such as Mike Hosking are investing with the fake company. Typically you'll enter your licence or passport details, and upload bank statements or utility bills to sign up for your account allowing the scammers to steal your identity.

Covid-19 scams

According to government cyber security agency CERT NZ, Covid-19 scams can involve requests to donate to fake World Health Organisation funds, or malware linked to Covid-19 maps. Another common scam this year is callers who say you've been exposed to Covid-19 and will need to pay for a test. Then there's fake job ads. When you apply for these "jobs" you're asked to pay a fee before your application progresses. Young candidates with no experience of the job market are most likely to fall for these.

Advertisement
Advertise with NZME.

Dodgy bank employee scam

In this scam, says Groot, you'll get a call from someone pretending to be a police officer. They want you to help uncover a fake dodgy bank employee, but you have to make a payment up front.

Discover more

Opinion

Diana Clement: Why you shouldn't neglect your student loan

10 Oct 04:00 PM
Opinion

Diana Clement: Five tips for making extra money

03 Oct 04:00 PM
Opinion

Diana Clement: Talking the talk - the secret to financial success

26 Sep 04:00 PM
Opinion

Diana Clement: How to maximise your KiwiSaver

19 Sep 05:00 PM
All the same old scams continue to catch Kiwis. Photo / 123RF
All the same old scams continue to catch Kiwis. Photo / 123RF

Buy/sell scams

Facebook Marketplace provides rich pickings for scammers. Anyone can set up a fake Facebook account and offer non-existent goods for sale. You pay them your money, but never see the goods. Groot points to a recent case where Aucklander Tony Bing listed his BMW for sale on Trade Me. A scammer copied the add and listed on Facebook Marketplace claiming to be the seller. According to CERT, reports of buying, selling or donation scams doubled in the second quarter this year from the first. Trade Me isn't immune to scams but has more protections. If you pay using Ping or Afterpay, you are covered up to $2500.

All the rest

All the same old scams continue to catch Kiwis. That includes the romance scams where you meet the love of your life online, but that person needs money to visit you. There are the Nigerian princes who have an inheritance that they'll share with you, but you need to pay some money to unlock your share. The calls purporting to be from Spark or Microsoft trick you to log into a website, that gives them access to your computer and if you're unlucky, online banking.

Be wary. New craftier scams that use "social engineering" (AKA enticing you to make dumb mistakes) appear all the time. Always be wary with your data, passwords and money if you don't want to be the next victim.

Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Latest from Personal Finance

Premium
Opinion

Mary Holm: Do landlord losses mean rents need to rise?

27 Jun 05:00 PM
KiwiSaver

'It's security': Push for KiwiSaver access to aid young farmers

27 Jun 05:00 PM
Energy

Entrust dividend: How to get your share of the payout

27 Jun 04:02 AM

Kaibosh gets a clean-energy boost in the fight against food waste

sponsored
Advertisement
Advertise with NZME.

Latest from Personal Finance

Premium
Mary Holm: Do landlord losses mean rents need to rise?

Mary Holm: Do landlord losses mean rents need to rise?

27 Jun 05:00 PM

OPINION: Expenses are higher than rent for some but many are doing it for capital gain.

'It's security': Push for KiwiSaver access to aid young farmers

'It's security': Push for KiwiSaver access to aid young farmers

27 Jun 05:00 PM
Entrust dividend: How to get your share of the payout

Entrust dividend: How to get your share of the payout

27 Jun 04:02 AM
Inland Revenue weighs up tax hikes to pay for ageing population

Inland Revenue weighs up tax hikes to pay for ageing population

26 Jun 05:00 PM
Engage and explore one of the most remote places on Earth in comfort and style
sponsored

Engage and explore one of the most remote places on Earth in comfort and style

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP