Investor Alerts - NZ Best Rates
| Company: | NZ Best Rates |
| Regulator: | Financial Markets Authority |
| Jurisdiction: | New Zealand |
| Date: | 05 Dec 2023 |
| Link: | https://www.fma.govt.nz/library/warnings-and-alerts/nz-best-rates/ |
| Subject: |
Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.) Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements Miscellaneous |
| Comments: |
We are concerned that NZ Best Rates may be operating a scam. Its website claims to offer a way to compare and find the best term deposit rates in New Zealand, while also providing information on choosing term deposits. We believe this website is a front, used to collect personal information from New Zealanders, which then enables overseas scammers to contact them with fictitious investment opportunities. We have received a report of a victim who was contacted with a fake TSB term deposit investment offer, after entering personal details on the NZ Best Rates website. This website states that investments up to $100K are safe as they are covered under the “Depositor Compensation Scheme”. No such scheme is currently offered in New Zealand. We recommend New Zealanders exercise extreme caution when dealing with this website and not provide it with any personal information. Entity name: NZ Best Rates Associated name: BR2023 Website: www.nzbestrates.com Telephone: +6498862573 Email: [email protected] |