Financial Markets Authority (FMA), in association with the Commerce Commission, launched a campaign for Pacific communities in New Zealand. It is to raise awareness of pyramid schemes, investment scams, and Covid-19 scams.
Since the beginning of March, FMA has got many complaints on multiple scams. The most reported one was a social media campaign on cryptocurrency. This particular scam used fake news articles and false endorsements by celebrities to promote cryptocurrency investments.
This new campaign by the regulators will educate people on how to spot scams.