Citibank N.A. investment scams

June 2023

Kiwis are being targeted by investment scams including one claiming to be from Citi N.A. (Citibank) offering Term Deposits. Citibank don’t provide financial products or services to individuals in New Zealand.

The FMA (Financial Markets Authority) have issued a warning on their website, with more information about the scam.

Red flags an investment could be a scam

  • An unexpected phone call, social media posts or social media chat, where ultimately you get asked for money or to invest
  • The investment promises high or fast returns or low risk returns
  • The company involved isn’t registered with regulatory agencies such as the Companies Office or the Financial Markets Authority in New Zealand, or doesn't provide clear and transparent information
  • You’re contacted to get your funds back from previous investments. 

How to avoid investment scams

  • Before investing money, research the company, the investment opportunity, and the people behind it. Look for information from independent sources, including regulatory agencies, financial analysts, and reputable news outlets
  • When searching online for investment opportunities, check to see if their website seems legitimate
  • Contact the investment provider on a number listed on their official website
  • Take your time to thoroughly look into it. Before making any decisions, consult a licensed financial advisor or investment professional. 


  • If you think you’ve been the victim of a scam, please call us immediately on 0800 269 296 (or +64 4 470 3142 from overseas, charges may apply).