Don't Get Trapped by Festive Loan Scams — New Zealand FMA Warns

As major shopping events like Black Friday, Singles' Day, and Christmas approach, the Financial Markets Authority (FMA) of New Zealand is warning consumers to be extra cautious of fraudulent credit and lending providers.

These scams often begin with unsolicited contact through online ads, phone calls, emails, or messages via social media and platforms such as WhatsApp, Telegram, or Facebook Messenger. Scammers may impersonate legitimate local lenders but use overseas phone numbers or email addresses that differ from those listed on the official company’s website. They might use Gmail, Hotmail, or email domains that appear the same as the legitimate entity’s domain (e.g., @abc.com vs. @abc1.com).

To lure victims, these fraudsters advertise loans that seem too good to be true, such as extremely low interest rates, minimal or no setup fees, guaranteed approval without credit checks, or no proof of income required. Once engagement is established, they often request upfront fees or deposits, ask for payments to be made to overseas bank accounts or in cryptocurrency, and may attempt to gain direct debit authority to withdraw money directly from the victim’s account.

To avoid falling victim, be wary of loan offers with unusually attractive conditions. Exercise caution if a company claiming to be based in New Zealand asks for overseas payments or deals in cryptocurrencies. Be skeptical of lenders that contact you via social media, through generic email services, or from overseas phone numbers. Always conduct due diligence checks before entering into any loan agreement.

The following entities and websites have been identified by the FMA as involved in this type of scam:

Entity name/website	Contact details	Website page
1769lending.com	Email: support@1769lending.com
Oldfieldlending.co.nz	Email: bartolojoseph227@gmail.com	/

If you suspect fraud, you can Submit a Complaint to BrokersView.