Fake news ads and AI-driven scams prompt fresh warnings
Mortgage and finance may want to step up scam education with clients after Kiwibank chief executive Steve Jurkovich (pictured) revealed fraudsters are using fake news‑style articles and social media ads to promote a bogus investment platform in his name.
Kiwibank says scammers have impersonated Jurkovich in fabricated online stories and paid posts to lure New Zealanders into a fraudulent scheme. The bank is asking customers – and anyone seeing its brand – to slow down and verify before they click.
Jurkovich said the activity shows how convincing modern scams have become.
“Scams are designed to trick people, and the appearance of legitimacy can be enough to push people into decisions they might otherwise question,” he said in a media release.
Jurkovich stressed that he is not backing any such offers: “I am not associated with any investment platform using my name or image. If you see my name promoting an investment, it’s a scam.
“Please stay alert as scams continue to evolve, especially if you receive unexpected calls, texts, or emails. Kiwibank continues to invest in fraud and scam prevention to protect our customers.”
For advisers advising first-home buyers, property investors, and self‑employed clients with surplus cash to invest, the warning underlines the importance of checking any “too good to be true” opportunity, particularly when it appears to carry a familiar bank logo or executive.
FMA flags fake news articles and AI-generated content
That warning is echoed by the Financial Markets Authority (FMA), which has separately warned of a surge in fraudulent trading platforms using fake news articles featuring prominent politicians and business leaders to entice investors.
Regulatory services manager Samantha McGuire said scammers are now using artificial intelligence to create deepfake images and videos to make the schemes look credible.
“We recommend exercising extreme caution when engaging with online content promoting investment opportunities, particularly when it uses images of high-profile New Zealanders,” McGuire said in a media release.
“This isn’t a new scam, we first warned about these tactics in August 2024, but we’ve recently seen a significant increase in ads, fake news articles and fake investment platform websites linked to the scam.”
According to the FMA, the latest wave includes clickbait headlines and fake articles mimicking RNZ, TVNZ, and NZ Herald, which then funnel users to fraudulent platforms.
In one 24‑hour period, the regulator identified 110 ads on Meta sites linked to the scam and has flagged more than 190 fake trading platform websites for removal since the start of March.
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