Investor Alerts - Bank of America – Fake term deposits and bonds

Company: Bank of America – Fake term deposits and bonds
Regulator: Financial Markets Authority
Jurisdiction: New Zealand
Date: 20240117 17 Jan 2024
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

Comments: A scam offering fake term deposits and bonds using the name of Bank of America (Australia) is targeting New Zealanders.

Scammers are sending out highly professional looking product disclosure statements which feature the Bank of America’s name, address, logo and registration details.

People are being contacted by phone after putting details into deposit comparison websites. The FMA continues to warn about the dangers of these comparison websites – they are used by criminals to harvest information.

We recommend investors contact the relevant bank or financial institution through verified channels for confirmation before investing any money.

Entity name: Bank of America (Australia)
Email: [email protected], [email protected]