New Zealanders Lose $265 Million to Fraud in Past Year, New Report Reveals

New Zealanders lost a gross total of $265 million to fraud over the past 12 months, according to the first Reported Fraud Monitor report released by Payments NZ. The report highlights how scammers are using increasingly sophisticated methods to exploit vulnerable people.

The report, compiled from data provided by 12 banks, offers a comprehensive overview of fraud trends. Of the $265 million reported, $126 million involved authorised payments, where victims were deceived into approving transactions themselves. The remaining $139 million stemmed from unauthorised activity, with criminals accessing accounts without the knowledge of account holders.

Over the past 12 months, reported fraud losses mainly came from three categories: compromised credentials at about $84 million, products and services scams at around $76 million, and relationship and trust scams at approximately $31 million. Together, these three categories accounted for nearly three‑quarters of the total amount.

Ministry of Business, Innovation and Employment (MBIE) spokesperson Ian Caplin said the figures demonstrate “scams are not only widespread but also increasingly deceptive”. As part of Fraud Awareness Week 2025, the Ministry is urging the public to adopt the “Stop, Check, Report” approach to protect themselves.

MBIE advises New Zealanders to pause before reacting to unexpected calls or messages, and to verify the legitimacy of phone numbers, email addresses, or websites before engaging. Clicking on suspicious links or responding hastily can expose individuals to significant financial risk.

Mr Caplin said, “Scammers rely on people acting quickly without thinking. They work without morals and only have to get lucky once to score”, stressing that a simple check could be the difference between safeguarding money and losing it to fraud.

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