FMA warns of deepfake scams using fake political endorsements

The Financial Markets Authority (FMA) has issued a warning after receiving multiple reports of scams using fake endorsements from New Zealand politicians.

Scammers are misusing politicians’ names and images in fabricated news articles and deepfake videos to promote fraudulent online investment schemes.

“New Zealanders who have invested through these fake online investment schemes are not able to withdraw their funds and can lose considerable amounts of money,” FMA said.

The warning comes as part of the FMA’s broader 2025/26 focus on improving consumer protections, disrupting scams, and ensuring the safekeeping of client assets.

Fake stories target fear and urgency

The scams use fake news stories, multiple websites, and social media ads to lure victims. These false articles claim, among other things:

• Kiwis will receive “income” or “dividend” payments from the IRD – the IRD has confirmed this is false.
• Pension payments have been cancelled.
• The retirement age has been significantly lowered.
• The government or politicians are endorsing specific investment opportunities.

How the scam works

According to FMA, the scam typically follows this pattern:

1. Clickbait ads on social media show doctored politician images or fake quotes.
2. Ads link to fabricated news stories, designed to look like legitimate media sites, promoting an “investment platform.”
3. Readers are sent to another website, which collects personal details via a registration form.
4. Victims are contacted by someone claiming to be an “investment broker” and told to start with a small payment of around $420.
5. Later, they are asked for larger sums — and when they try to withdraw, are told they must pay fees, after which no money is returned.

What to do if you’re targeted

FMA advises potential victims to:

• Contact your bank immediately to see if a reversal is possible.
• Get your device checked by an IT professional if you installed remote access software.
• Report repeated scam calls to your phone provider.
• Forward spam texts/emails to the Department of Internal Affairs.
• Inform a trusted friend or family member.
• Call Victim Support on 0800 842 846 for free help.

High-risk entities named

FMA has listed multiple suspicious platforms and contact details connected to these scams, including:

• Paribas Group (Imposter) – paribasgroup.com, paribasgroup.eu
• Statefunds – statefunds.com
• Capital Systematics – system-capital.org
• Sapphire Partners Inc. – sapphirepartners.cc
• MonXetBit App – monxetbitapp.com
• OrionDFX – oriondfx.com

(Full list available on the FMA website.)

Why this matters for mortgage and finance professionals

For advisers and lenders, these scams underline the importance of verifying investment opportunities and client source of funds.

Fake endorsements and deepfake technology are making scams harder to detect, increasing the risk that clients could lose significant deposits or savings earmarked for home purchases.

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