And how to safeguard against such scams
As the financial year draws to a close, BNZ is sounding the alarm for New Zealanders to be on high alert for tax scams.
“The end of the financial year is a prime opportunity for scammers, who take advantage of tax time to trick and defraud New Zealanders out of their money,” said Ashley Kai Fong (pictured above), BNZ’s head of financial crime.
Tax scam tactics
Scammers are exploiting the tax season by creating fraudulent scenarios related to tax debts or refunds that seem timely and credible.
“Tax scams are particularly effective because people often have genuine interactions with the IRD during this time of year,” Kai Fong said in a media release. “Scammers exploit this familiarity to make their attempts more believable. It's crucial to verify the authenticity of any unsolicited communication claiming to be from government agencies.”
BNZ has observed a recent uptick in customers receiving fraudulent emails claiming to be from the IRD.
“A recent example we’ve seen is of customers receiving an email... that directs customers to a fraudulent IRD website, which then leads them to a fake bank login page,” Kai Fong said.
This, he said, serves as a reminder to be vigilant and cautious when receiving unsolicited emails, even from seemingly trustworthy sources.
BNZ on safeguarding against tax scams
New Zealanders are advised to always access their accounts through official websites and be especially cautious of communications about tax refunds or debts.
“The simplest yet most powerful defence you have is being aware,” Kai Fong said, urging individuals to trust their instincts and verify sources thoroughly before providing sensitive information.
BNZ encourages anyone who suspects they might be the target of a scam to contact their bank immediately and visit www.getscamsavvy.co.nz for more information on protecting themselves from scams.
BNZ recently reported a sharp increase in scams, with $198 million lost last year and 90% of New Zealanders targeted, impacting finances, personal security, and online confidence.
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