https://www.nzherald.co.nz/nz/nz-first-candidate-david-wilson-loses-200k-in-scam-bank-confirms-mule-account-legitimate-in-phone-recording/LDU4PNNNBREPPC5PRGED4ACSDI/ NZ First candidate David Wilson loses $200k in scam, bank confirms mule account ‘legitimate’ in phone recording

It is NOT the bank’s fault when you fall for a scam. When you ask for more “protections” what you are really asking for someone to take responsibility for your mistakes when you F-up. What this also means is that whomever that party is that takes responsibility will need to get involved in all your transactions to make sure they do not end up having no to pay for your F-up… Do you really want someone telling you what you can do with your money more than they do already?

There are already plenty of tools available to you as an investor, if you choose to use them. NZ has the FMA and all financial advisors must be registered, so if you’re really keen on giving $200k to someone who cold called you for “an amazing investment opportunity”, get their reg number, verify them with the FMA, contact their listed employer via their publicly available contact information and double check it AND get the prospectus. If they pass all these then if you send them money and they do a runner, you have someone to go to complain to. If you don’t leverage these and decide to do your own “due diligence”, it all sits with you.