Financial Markets Authority

10/03/2025 | Press release | Distributed by Public on 10/02/2025 16:29

Investment advice group chats used in suspected pump-and-dump schemes

  • Stop engaging with the scammers. Do not provide any further personal information or payments to them. Report the group chats to WhatsApp and block the scammers on all devices.

  • If you have shared your bank account or credit/debit card details with the scammers, contact your bank immediately to secure your account.

  • If you have downloaded remote access software on the instructions of the scammers, immediately contact an IT professional to have your device checked for malware. If you have accessed your bank account or other payment systems while the remote access software was operating on your device, report this to the relevant account providers.

  • If you have shared any other personal information or downloaded any software at the scammers' request, contact IDCare for help creating a plan to secure your identity.

  • If you have followed the scammers' trade recommendations, contact the trading platform or sharebroker you used to carry out the trades and let them know about the scam.

  • If you are getting spam emails and text messages, report these to the Department of Internal Affairs here.

  • Tell a trusted relative or friend what has happened. They may help you see the situation more clearly, help you deal with the scammers, and suggest what to do next.

  • Contact Victim Support on 0800 842 846 or visit their website. They can provide free emotional and practical support and information.

  • Report the scam to the FMA.

Financial Markets Authority published this content on October 03, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 02, 2025 at 22:29 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]