Holiday scams and how to avoid them

Our Fraud Prevention team works 24/7 year-round to protect you and your money. But they need your help.

Each year scams and fraud increase over the festive season. Stay safe by following these tips to help prevent them.

If you think you or a loved one has been targeted by a scam, contact us immediately by calling 0800 400 600 and visit Urgent Help on our scam hub to learn how to temporarily block your card and other ways to stay safe.

Here are some common scams around this time of year and ways to avoid them.

#1 Online shopping

Shopping online is a great way to avoid the crowds, but there are a few things to watch out for. Scammers may send emails and create fake ads or social media accounts directing you to sites that take your payment details. Once they have accessed your personal information or credit card details, they can continue to steal your money.

When buying online:

• Think twice about offers that are too good to be true, they often are
• Only purchase from well-known retailers or conduct thorough research before making a purchase - check their social media and any online reviews outside of their site
• Visit a retailer’s official website to confirm any specials or deals
• Keep an eye out for any charges you don't recognise on your credit card statements.

#2 Marketplaces

Buying directly from another person can be a great option to save money, but be extra careful when trading in online marketplaces, like Facebook Marketplace or Trade Me.

Scammers can pose as both buyers and sellers to try and scam you out of your money, items you might be looking to sell online or your personal information.

When the scammer is posing as a buyer, they'll either get you to send the goods without paying or send you to a site (often using a phishing email) where they say you need to pay money or provide details to arrange delivery or resolve a payment issue. These sites will capture your bank account details, and scammers use these to try and steal your money.

When the scammer is posing as the seller, they can trick you into paying for a product or service that does not exist or is never delivered.

When buying or selling on online marketplaces:

• Consider viewing the goods in person before completing the purchase
• When selling, always confirm the money is showing in your account before releasing goods; don’t rely on emails, texts or screenshots as proof of payment.
• When buying, beware of unusual payment methods, such as cryptocurrency or overseas payments
• Reconsider trading if the seller’s profile has been recently set up, if they use an alias rather than a full name, if they have bad feedback, little or no feedback, or limited friends and connections
• Be wary if the seller applies pressure to complete the sale, or requests to complete trades or communicate off the platform.

#3 Holiday related phishing

Phishing text messages are used to get the recipient to provide either personal information or their financial details. Two common variations over the holiday season are:

• Parcel Delivery – These messages will often relate to either arranging delivery, redelivery or that a Customs fee is payable before delivery of a package or gift
• Road Toll – These messages will state that the receiver has unpaid tolls. These messages are particularly effective at this time of the year due to the increased amount of travel for the holidays.

These texts contain a web link and clicking the link could direct to a phishing site. These will impersonate a real site – like a postal service, NZTA or your bank. They will have a screen to enter your card details, or even to log in to your bank account. These details will be captured to compromise your account or make fraudulent payments. The sites may also have malware which will infect your devices and steal more information.

When you receive a message:

• Be wary of contact by text, phone or email that is unexpected
• Carefully check any text messages you receive and avoid clicking on links unless you can confirm they are genuine. Hover over links without clicking to check you’re being sent to the official site you were expecting
• If you're unsure, contact the company directly through an official channel to confirm.

#4 Investment scams

Investment scams often start from an online ad which may pretend to provide a 'comparison' or advisory service (increasingly involving cryptocurrencies). They collect personal information and will call or email you back offering an 'opportunity'.

The scammers often have a professional looking profile, and a well-designed website with a log-in portal where people can see their supposed returns. They also impersonate well-known financial institutions to make their scams look legitimate.

Victims of investment scams often don’t realise they have been scammed until the investment matures, making it difficult to recover funds.

When taking out a new investment:

• Visit the Financial Markets Authority website for information on the latest investment scams
• Seek advice from a qualified Financial Advisor and use a licensed or registered financial service provider. Ensure they are registered on the Financial Service Providers Register on Companies Office and, if appropriate, licensed by the Financial Markets Authority
• Don’t respond to cold calls, emails or social media messages about investment opportunities
• Be wary when searching for investments online. Avoid engaging with online ads and online brokers or businesses with no presence in New Zealand
• Always complete thorough, independent research on all investment opportunities
• Contact the financial institution offering the investment using a number on their official website to confirm the offer is legitimate
• Avoid investing in a scheme or technology (such as cryptocurrency) that you don’t understand
• Be extremely cautious if the opportunity offers low or no risk and promises returns higher than current market rates
• Before making payments, confirm the payment account information (and other details such as the country the funds are going to) match the investment details.

#5 Bank impersonations

The Westpac Financial Crime team will be working through the holidays but be sure that the call is really from us.

Be wary if you receive an unexpected call from someone claiming to be from your bank. The caller may have a believable story for this call, for example they may claim that there’s fraud in your account and that you need to take urgent action to keep your money safe.

They will try to convince you to make payments or hand over your information (including verification codes) but it’s important that you stop and consider all requests before doing anything.

When you receive an unexpected call:

• If you have any doubt, hang up and phone us back yourself using our official phone number: 0800 400 600
• If you’re calling us after a suspicious phone call, always wait on the phone until we answer, don’t request our call back service. Scammers often call again, and you may think it’s us, but it could be the scammer again
• Don't feel pressured to comply with a request you’re not comfortable with. Scammers often spend a long time convincing people to do what they want and may call them repeatedly
• Carefully read any email and text alerts you receive from us and make sure that you are using that information for its intended purpose only
• Don’t allow remote access to your devices or download software at the request of a caller.

Find out more information about keeping yourself safe and the latest scams.