But Kiwis getting more scam savvy
Scam activity has significantly jumped over the past 12 months, with nine out 10 New Zealanders targeted by a scam, a 13% lift on the same period last year.
This was according to BNZ’s new Scam Savvy Research, which also found that while the volume of scams has spiked, New Zealanders have become more savvy, with only one in 10 Kiwis falling victim.
Ashley Kai Fong (pictured above), BNZ’s head of financial crime, said that while it was “fantastic” that New Zealanders were learning to spot the red flags, the massive number of scams should serve as a stark reminder for everyone to remain vigilant.
“All scams require people to do something – whether that’s clicking on a link, engaging in a conversation, or sending money,” Kai Fong said. “Ultimately the best defence against scams is you. If you can recognise the signs of a scam, you’re less likely to fall victim. That’s why BNZ has developed tools and resources to help New Zealanders get scam savvy at www.getscamsavvy.co.nz.”
Businesses, too, have improved their ability to identify and avoid scams, with the number of SMEs falling victim to scams falling to 34% from 47% in 2022.
“Scams are a significant threat to our business community, but these figures show that SMEs are taking the right steps to protect themselves,” Kai Fong said.
It also appeared businesses have not grown complacent despite the reduction, with 60% of businesses scammed in 2023 reporting the incident – a marked increase compared to 39% in the previous year.
“This underscores the growing awareness among businesses of the importance of swift reporting and robust prevention measures. It’s a clear indication that the business community is recognising the threat posed by scammers,” Kai Fong said.
Findings also showed that 64% of scammed individuals reported the incident, up from 46% last year.
“Reporting scams is a crucial step in fighting fraud,” Kai Fong said. “It provides valuable data to help us understand and combat these threats more effectively, making it harder for scammers to operate.”
He said that while it’s great that Kiwis are increasingly reporting scams, there is still a lot of room for improvement. He stressed that there is nothing to be embarrassed about being scammed, and that by reporting it, victims could help others avoid being scammed in the future.
Over the last 12 months, the most prevalent scams were government impersonation scams (45%), followed by bank impersonation scams (31%), and fake lottery, prize, or grant scams (24%).
Scams were usually perpetrated using emails (40%), followed by text (34%), and social media (28%). Phone calls (18%), online websites (9%), or by someone you know (3%) were also common ways scammers target their victims.
“Scammers are becoming increasingly sophisticated, impersonating trusted brands and institutions, and exploiting a range of channels to deceive New Zealanders,” Kai Fong said.
Despite the surge in scams, the BNZ research revealed that educating New Zealanders to spot and avoid scams is helping keep them safe.
“Around two-thirds of those surveyed reported having seen educational material about scam prevention,” Kai Fong said. “Knowledge is power. We want as many people as possible to get Scam Savvy as the more we know about scams, the better equipped we are to spot and avoid them.”
BNZ’s Scam Savvy tools can be accessed via www.getscamsavvy.co.nz.
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