Scammers defraud Kiwis of $265 million in 12 months

The first Reported Fraud Monitor report by Payments NZ shows how fraud has occurred and includes information on the different types of scams hitting Kiwis most.

Ministry of Business, Innovation and Employment (MBIE) spokesperson Ian Caplin said this figure really hits home how much damage scams can cause to everyday New Zealanders.

MBIE is urging Kiwis to be more vigilant and as part of the Fraud Awareness Week 2025, it is urging people to Stop, Check, Report – 3 simple steps to stop frauds and scams.

Total taken from New Zealand banks

Payments NZ is releasing its first Reported Fraud Monitor report for New Zealand, which provides a comprehensive overview from 12 banks of gross reported fraud that has happened over the past 12 months.

Payments NZ has used an updated methodology this year to provide a clearer and more consistent picture of reported fraud. As a result, the figures are not directly comparable with previous years.

This year’s data also breaks down how fraud occurs and highlights the types of scams most commonly impacting New Zealanders.

“Of the $265 million defrauded, about $126 million of reported scams involved authorised payments, where individuals were tricked into approving the transaction themselves,” said Mr Caplin.

“The remaining $139 million came from unauthorised transactions, where scammers accessed accounts without the account holder’s knowledge.

“The biggest amounts defrauded came from products and services scams, which accounted for around $76 million of the total $265 million. Relationship and trust scams made up about $31 million, and compromised credentials scams account for $84 million.

“Together, these 3 types of scams make up nearly three-quarters of the total amount defrauded, with the rest spread across a range of other scam types.

“These figures show that scams are not only widespread but also increasingly deceptive. It’s critical that people stay alert and take steps to protect themselves and their finances.”

Stop, Check, Report

This year’s Fraud Awareness Week urges New Zealanders to take a moment before responding to anything that could be a scam.

“Kiwis are busy, we have families to care for, jobs to do, and errands to run. Scammers know that, they rely on that, and they prey on that,” said Mr Caplin.

“If you get an unexpected message or call, pause before reacting. Ask yourself, could this be a scam?

“Don’t click on links. Instead, be proactive and search online to verify the sender’s identity. Look up the phone number, email address, or website to see if it’s legitimate, before engaging with anyone who reaches out unexpectedly.

“Taking a moment to check could be the difference between keeping your money safe and losing it to a scam,” Mr Caplin said. “Scammers rely on people acting quickly without thinking. They work without morals and only have to get lucky once to score.”

For resources on where you can quickly and freely report any type of scam, visit the Consumer Protection website.

Be alert. Stay scam safe(external link) — Consumer Protection

If something seems suspicious, report it. With $265 million gone to scammers through our accounts in New Zealand last year, it’s always better to be safe than sorry.