Investor Alerts - NZ Compare Rates - Comparison site harvesting investor details
| Company: | NZ Compare Rates - Comparison site harvesting investor details |
| Regulator: | Financial Markets Authority |
| Jurisdiction: | New Zealand |
| Date: | 11 Apr 2024 |
| Link: | https://www.fma.govt.nz/library/warnings-and-alerts/nz-compare-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 Compare Rates may be operating a scam. It operates a website claiming to “compare New Zealand’s best investments”. The website states that investors can “invest up to $100k safely with the Depositor Compensation Scheme”. However, no such scheme is currently offered in New Zealand. The website prompts consumers to enter personal contact details and details of proposed investments into an online form. FMA believes this website is a front, used to collect personal information from New Zealanders, which then enables overseas scammers to contact them with fictitious term deposit investments. We recommend New Zealanders exercise extreme caution when dealing with this entity and not provide it with any personal information. ENTITY NAME: NZ Compare Rates WEBSITE: www.nzcomparerates.com TELEPHONE: +61861506184, +61871303189 EMAIL: [email protected], [email protected], [email protected] |