The original version of this article was written by Vivian Valbuena, AML/CFT Officer and General Manager of Risk at Fisher Funds. Vivian is also the deputy chair of the RiskNZ board.

The facts

• Scams are on the rise, with one in five people reporting being affected in 2024.

• The 60-plus age group is disproportionately affected by fraud.

• There are six habits that can help protect you, such as reviewing accounts and enabling spending alerts.

Scams can happen to anyone, even to those who know the tricks. Not long ago, I received a voicemail from Visa alerting me to two potentially suspicious transactions on my account. I called the number straight away to confirm I had not made the two purchases and to stop any further attempts. But as the phone was ringing, it hit me – Visa wouldn’t call me directly, my bank would. I hung up just in time.

Despite studying fraud for years, I panicked and almost fell for the con.

And I’m far from alone. Around one in five New Zealanders reported being scammed in 2024, though the true number is likely significantly higher. While we’re still waiting for 2025’s figures, all signs point to another rise.

Fraudsters will steal from anyone, but the 60-plus age group remains disproportionately affected – though they may also report scams more frequently than other age groups.

So what can you do to protect yourself and your money? Here are six simple habits that can make a real difference:

1. Set aside an hour every two weeks to review your accounts

Look through the transactions on your chequing, savings and credit card. Spotting small irregularities early can prevent bigger losses later.

2. Turn on spending alerts

Many banks let you receive an email, text or app notification every time there is a withdrawal over a certain amount, such as $100. I use this feature and can tell at a glance if it’s a real transaction or not. Separately, it also helps me keep on top of what I’m spending.

3. Check your credit report once a quarter

You can get a free credit report from Centrix, Equifax and illion. It will show whether any charges have been made or new accounts opened in your name without your knowledge.

4. Change your phone settings to automatically send unknown callers to voicemail

This reduces the chances of a scammer getting hold of you. If it’s an important call, the person will leave a message.

5. Sign out of payment apps or digital banking when you’re done, whether it’s your laptop, phone or watch

I’ve heard stories of people lending their phone to a teenager whose phone had run out of juice and needed to call home for a ride, only to discover that they’d actually gone into an open Wise app and transferred money out of the account.

6. Be mindful about what you post on social media

Sharing sentiments like “have a wonderful birthday today” can tell fraudsters your or your friend’s date of birth. Posting photos sipping daiquiris at an island resort tells criminals your home is empty.

If you do get scammed, report it. The more we track fraud, the more we can do to prevent it. And most importantly, be kind to yourself. There is nothing to feel ashamed about. Fraudsters are manipulative, self-serving and often cruel. They don’t care if they take someone’s education fund or life savings. Victims deserve empathy and guidance on next steps – not blame.

At Fisher Funds, protecting your hard-earned savings is our top priority. Your money is held separately by an independent custodian, and every interaction with us begins with strict security checks to confirm your identity. From secure online access to rigorous verification for withdrawals, including proof of bank details and additional safeguards for large transactions, we want to ensure only you can access your funds. Because helping you grow your wealth is important but keeping it safe is essential.

Talk to us

If you have any questions about your investment or would like to make sure you have the right investment strategy to reach your goals, get in touch with us – our team are always happy to help.

The original version of this article was published in the NZ Herald, 20 November 2025 (Paywalled)