ANZ warns of social media investment scams using its branding, and targeting older Kiwis
ANZ is warning New Zealanders to remain on high alert after a new wave of investment scams emerged, targeting users on social media with
fake ads that misuse the bank's branding.
The latest scam, identified this week, involves an advertisement promoting a stock market education programme featuring the ANZ's logo. The
ad directed people to join group chats for investment advice — a tactic ANZ says is designed to pressure individuals into fraudulent
schemes.
"The ads are the latest in a long line of investment scams. Sadly, they won’t be the last," said Alan Thomsen, Head of Customer Protection
at ANZ.
ANZ has reported the ads to the platform and is monitoring for similar content alongside the financial markets authority. The bank
emphasised it does not offer stock trading education programmes and that official posts would only come from its verified account.
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