ASB: Scams on the rise in New Zealand & how to spot the warning signs

Scams are becoming one of the biggest financial and wellbeing challenges New Zealanders face today. The Ministry of Business, Innovation & Employment (MBIE) reports that an estimated $200 million is lost to scams annually, with over 60% of New Zealanders encountering online financial scams monthly¹. 

To help you get one step ahead of scammers, we sat down with Brodie Macdonald, ASB’s General Manager of Fraud and Scams, to talk through the most common scams facing New Zealanders today, what red flags to look out for and the practical steps you can take to keep yourself and your whānau safe.

“Right now, one of the biggest threats we’re seeing are impersonation scams,” says Brodie. “Fraudsters pretend to be employed from trusted brands like banks, telcos, NZTA or NZ Post. You might get a call for example from someone claiming to be from ASB’s fraud team, or a text message that looks like it’s from NZ Post about a parcel delivery. These fraudsters go out of their way to make it feel legitimate, but it’s not.”

Investment scams are also on the rise. These can look like property companies, managed funds or term deposits offering impressive returns. Scammers often use professional-looking documents, copied logos and even fake websites. Some have gone as far as using images of well-known New Zealanders to make their offer look authentic.

Another common one is the “Hi Mum” WhatsApp scam, where someone pretends to be your child or family member claiming they have lost their phone and are in urgent need of money. In wanting to keep them safe, we’re more likely to respond quickly without questioning.

And then there are online buy-and-sell scams, especially on platforms like Facebook Marketplace. Scammers might pose as sellers offering deals too good to be true or pretending to be buyers tricking people into sending goods and not following through with payment.

There are a few red flags I always tell people to watch out for:

• Urgency – real organisations won’t pressure you to act immediately.
• Cold calls – unsolicited calls offering investment opportunities.
• Requests for personal info – if anyone asks for your card PIN, internet or mobile banking PIN or any code that has been sent to your phone it’s likely to be a scam.
• Too good to be true offers – guaranteed high investment returns, free gifts or sudden windfalls.
• Unusual communication – emails or messages from strange addresses, suspicious looking URLS, spelling mistakes or blurry logos.
• Pressure to move platforms – a seller messaging you by text or on Facebook asking you to switch to WhatsApp or WeChat.
• Remote access requests – scammers might ask you to download software that lets them control your device.

The reality is scams are harder to spot now. The messaging is good, the branding looks real, and sometimes the person on the other end already has some of your details. That’s why it’s so important to pause and double check. 

At ASB, we talk about Stop, Check, Reject:

• Stop: pause before you act. Does it feel too good to be true? Banks won’t ask you to transfer money to keep it “safe” or to download apps to give them remote access to your device.

• Check: talk to someone you trust, search the company online, or call your bank directly. Use the phone number listed on the official website, not the one the caller gives you.

• Reject: hang up, block the number, report the messages. If you’re suspicious of a call claiming to be from ASB, ask them to send you a Caller Check notification through the ASB Mobile Banking app. If they can’t, it’s not us.

And if something still doesn’t feel right, trust your instincts. 

Firstly, don’t feel embarrassed. Falling victim to a scam can happen to anyone, no matter how savvy you are.

Then:

1. Stop all contact with the scammer.
2. Change your passwords immediately.
3. Call your bank straight away. The faster you act, the better chance we have of recovering your money.
4. Report it to Netsafe, NCSC, New Zealand Police, or report it to the Department of Internal Affairs by forwarding the spam or scam message from your phone free of charge to 7726.

The most important thing is not to wait. Every minute counts. 

We’ve invested heavily in tools to help keep our customers safe, including:

• Caller Check verifies in the ASB Mobile Banking app if a call is really from us. We can send you a secure in app message asking if you’re on the phone with us right now, and you simply tap yes or no.
• Confirmation of Payee checks the name and account number match when you make payments.
• 24/7 ASB Fraud Line (0800 ASB FRAUD) where our team is always available to answer questions or take urgent action.
• AI fraud protection monitoring helps to detect unusual behaviour, alerting potential fraudulent activity on your account.
• In App secure messaging allows you to respond to us if a card transaction in question is genuine or wasn't made by you.

Simple steps can make a big difference. Setting daily payment limits means less risk if someone did get into your account. Using strong, unique passwords and two-step verification add extra layers of protection, and they only take a couple of minutes to set up.

Scammers are already using AI to make their attacks more convincing, and that’s a real challenge.

At the same time, it’s also an opportunity for us as a bank. We’re leaning into new technologies to help stop scams before they reach customers, and we’re doing that in collaboration with others. Through the New Zealand Anti-Scams Alliance, banks, telcos, regulators and government agencies are working together to share intelligence, strengthen protections, and give people practical ways to spot and avoid scams.

The key message I want to leave people with is that scams can happen to anyone. There’s absolutely no shame in it. What matters is acting quickly, reporting what’s happened, and taking simple steps every day to protect yourself and those you care about.