The Financial Markets Authority says cold calls about investment opportunities are generally illegal in New Zealand. Photo / 123RFThe Financial Markets Authority says cold calls about investment opportunities are generally illegal in New Zealand. Photo / 123RFBy Anan Zaki for RNZA man has been left $700,000 out of pocket after being scammed by a fake overseas investment company. Bob's daughter reported it to the Financial Markets Authority (FMA) in September which confirmed it was a scam, but by now it was too late, he had lost $700,000. I contacted the FMA for help and support knowing that if the same message came from a financial authority he would be more likely to listen and absorb it - and most importantly not send more money."

Source: Stuff December 07, 2021 21:53 UTC