Common Scams to Avoid & What to do if You think You have Been Scammed
How to Report a Scam in New Zealand
Should you wish to report a scam to Consumer Protection (part of the Ministry of Business, Innovation & Employment in New Zealand), you can do so by following the information here: https://www.consumerprotection.govt.nz/general-help/scamwatch/report-a-scam/
You are welcome to contact us via email for a confidential conversation in case you are a scam victim or know anyone who may be a victim: fraud@bitprime.co.nz.
If you think you have been scammed:
- Stop ALL contact with the scammer
- DON’T send them any more money
- Call your bank immediately
- Call the Police on their non-emergency line 105 (unless yourself or someone else is in immediate danger, in which case call 111)
- If the scam involved cryptocurrencies, you are more than welcome to ask us for further advice
- Change your email account, bank account, BitPrime account, and all other relevant passwords to unique, strong ones
- Talk to a friend or family member that you can trust
Resources to Help You if You’re the Victim of a Scam
Little Black Book of Scams
The Commission for Financial Capability has published a FREE 24-page booklet which is available from its sorted.org.nz website. A range of different common scams is covered. These include investment scams, identity theft, romance scams, tax scams, and many more. We highly recommend everyone to familiarise themselves with the information in the booklet to ensure you and your loved ones are aware of what to look for.
You can either download it as a PDF file or request for a copy to be posted to you. The title of this is The Little Black Book of Scams. Alternatively, you can view the PDF file, saved to our site, by clicking on the image below:
Netsafe
Online safety help and advice for New Zealanders, including scam reporting.
Scamwatch
Another useful site is Scamwatch, produced by Consumer Protection, a part of the Ministry of Business, Innovation and Employment.
Crypto Trader Bot Scams
Also, we have an article covering Crypto Trader Bot Scams. You have likely seen such scams advertised on social media channels with fake celebrity endorsements to lure people in.
Entities Showing
Hallmarks of a Scam
- d.ai.sy (otherwise known as Daisy Tron, Daisy TRX, Daisy Crypto, or Daisy USDT)
- Hyperfund (otherwise known as Hypertech Group, HyperCash/HCash/HC, HyperCapital, HyperDAO or HyperCommunity),
- Evorich (otherwise known as New Economic Evolution of the World/NEEW, Skyway Investment Group/SWIG, Skyway Capital, Skyway Group, or RTN Limited)
- Cash FX (otherwise known as Cash Forex Group)
Why We (BitPrime)
Believe They Might Be Scams
- Firstly, all operations have many warnings signs of an investment scam (as per the FMA’s website, and signs of fraud as per the SEC.
- None of these entities are registered on the Financial Service Providers Register. They are all providing financial services to persons in New Zealand; therefore, they should be registered and subject to the laws and regulations of this country.
- All entities offer guaranteed returns. It would be best if you examined promises of high, consistent return for little risk very sceptically.
- The fee structure and strategies are difficult to understand. The websites of these entities appear to have little or no information about the entity’s fees or structure.
- Customers buy “packages”, and to get the bulk of your funds, you need to sign up other customers.
I opened a brokerage account with Paragon Finance UK back in 2020, first ever investment. About 6 weeks ago they contacted me claiming I had earnings on my investment and I needed to transfer back to my acct, as they where soon closing the platform. To cut a long story short my investment earnings are still six weeks later sitting in Custody at BitStamp and unable to redeem any of it. I have have provided the all the international transfer details to my account, on several occasions, I keep getting the front desk and can’t get any more than I’ll tell to my colleague, when I last spoke to front desk they told me they had terminated my acct ???? without even notifying me, do you have any suggestions?
Hi Lynn,
I am very sorry to hear this. It very much sounds like you are the victim of a scam. Please follow the instructions in the above article to report this to the relevant authorities and to also find a support network.
I will also send you an email with some further advice.
Kindest,
Victoria
Thank You