Shocking Rise in Fake Government Licences and How to Protect Yourself
Author: Adam Collins
The FMA is reporting a surge in counterfeit FMA licence certificates being used to deceive people into investing money with fraudulent brokers.
Details of a New Zealand-based entity, Collinson Crowdfunding Limited, which is licensed to operate a crowdfunding service, have been misused in these scams. The FMA confirms that Collinson Crowdfunding is not involved in these fraudulent activities.
Victims have reported communicating with the fake licensees on the messaging app Telegram.
Additionally, the name of another entity, Collinson Funds Management Ltd (NZBN: 9429046190161), associated with Collinson Crowdfunding, has been used in scams on various Chinese social media platforms, including Weibo, zhihu.com, sohu.com, and Baidu.com. Collinson Funds Management Ltd has stated that they do not offer their services and products in China.
Here are some ways you can verify the authenticity of a licence certificate holder:
- All Financial Service Providers (FSP) and FMA licence holders are listed on the FSP Register. Check the registration details here. Ensure the FSP number, name of the entity/licence holder, and the registered/licensed service type match the information on any provided certificate.
- Most FSPs and licence holders are New Zealand-registered companies. Some companies have their contact details or website addresses displayed on the Companies Register.
- You can also contact the company/licence holder to verify the licence with them but do not use telephone or email details given by the person showing you the licence certificate. You might be directed to an accomplice.
- If the company or licence holder’s contact details are not on the Companies Register, search for their website online. New Zealand company websites typically end with .co.nz but might have other domain names.
Protecting Yourself Against Impersonation Scams
Impersonation scams can be tricky as scammers stop at nothing in their move to dupe you. Here are a few ways you can use to protect yourself;
- Verify Official Channels- Always ensure you're on the company’s legitimate website or official social media account when making purchases or seeking information.
- Check Website URLs- Double-check the website URL for spelling errors and ensure it has a legitimate domain extension and spelling. Scammers will cleverly add or remove certain words or characters to dupe people into thinking they are getting the correct domain. Anything on the URL that seems off is not by mistake but by design.
- Use Secure Websites- When making transactions or accessing services online, ensure the website is secure and associated with the company. For customer support, rely only on contact details provided on the official website or verified social media accounts. Use tools like ScamAdviser to verify website legitimacy if unsure.
- Protect Your Personal Data- Avoid sharing sensitive information online, especially in response to unsolicited requests. Legitimate organizations and government agencies typically do not solicit personal information through email or messages.
- Avoid Clicking Unsolicited Links- Refrain from clicking on links in unsolicited emails or messages. Instead, use the official app of the company or visit their verified website directly to address any account-related issues.
This article is published in collaboration with New Zealand's FMA
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