Chinese New Zealanders have been told not to believe warnings from conmen that reporting investment scams will land them in hot water with the authorities.
The Financial Markets Authority (FMA) believes scams targeting Chinese New Zealanders are being under-reported, but urged people to come forward, saying it has multi-lingual staff able to listen to complaints in Mandarin and Cantonese.
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But, he said: “We’re also aware of cases where scammers have even warned victims will get in trouble with New Zealand authorities if they report the crime. This is obviously not correct.”
“Scammers thrive on secrecy,” he said.
“They prey on people’s desire not to lose face or cause a fuss. But that only helps them keep scamming others.
“Reporting them means we can investigate, warn the public, and refer victims to other agencies who may have more tools to help.”