Stock Market Tracking group Z1
Flagged by Financial Markets Authority · New Zealand (NZL)
Products / Services Flagged
Official Warnings (1)
The FMA warns about investment advice group chats targeting New Zealand investors with ‘pump-and-dump’ schemes. Scammers purchase large volumes of low-value shares in overseas companies. They then persuade investors to purchase low-priced shares in overseas company, artificially inflating the share price. The scammers then sell their holdings at a profit. When the share price collapses, investors are left bearing significant losses.
After a victim suffers a loss, the scammers often claim, falsely, that the victim is entitled to compensation or reimbursement. The scammers use these claims to harvest personal information and further payments from the victims.
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This information is sourced from IOSCO I-SCAN and official financial regulators. Inclusion in this database does not necessarily mean the firm has committed fraud - it may indicate they are not authorized to operate in a specific jurisdiction. Always verify directly with the relevant regulator before making investment decisions.