Stay safe with Stake

Our focus

Scams are unfortunately on the rise in New Zealand, especially across financial services. Our number one priority is always the safety of our customers.  

A recent trend across the country has investment scammers targeting people through group chats, social media and other messaging apps. 

They’re using terms like ‘get rich quick’, ‘inside information’, or sharing screenshots of fake profits to pressure people into transferring funds, sharing account details or gaining remote access to devices. 

The impact can be serious, but there are practical steps you can take to help protect yourself and your account.

Act quickly, remain calm and follow these steps:

1. Cease communications with the suspected scammer. Block the sender or leave the group. In short: don’t reply.
2. Take screenshots of messages, posts, profiles, payment instructions and links.
3. Secure your Stake account:
• Change your password
• Enable two-factor authentication (2FA)
• If you can’t access your account, request an account lock via Stake-supported channels
4. Contact your bank or card issuer’s fraud team and ask them to freeze 
or trace any payments
5. Report the scam to local police, ReportCyber and ScamWatch. Ensure to keep the incident number/log handy for future developments
6. Report the scam to us directly via our Security Report page here. Please include screenshots, transaction details and any social account information of the person(s) involved.

After a data breach, here or anywhere else, scammers often contact people pretending to offer help, compensation or "account protection".

Stake will never ask you to:

• Pay a fee, tax or charge to receive compensation, a refund or a reimbursement
• Provide verification codes, passwords or PINs to "confirm" your eligibility
• Move funds to a "safe" or "protected" account
• Download software or click a link to "secure" your account

If we need to tell you about an incident affecting your information, we'll do it through the Stake app or from official Stake email addresses. You can also verify emails via content our website at Stake Updates.

Use social media, group chat, SMS/MMS or personal message to ask you to:

• Transfer money or move funds to another bank account, individual or ‘safe’ account.
• Provide your Stake account password, PIN or one-time verification codes (OTPs)
• Share your screen, install remote-access software or grant remote control of your device
• Log in to your Stake account via a link in an email, SMS, DM or group chats
• Send account balances or transaction confirmations from an unverified personal account 
• Access products or services through private messages or group chats

If you receive a message that feels fishy: stop, take screenshots, leave the chat, block the sender and report it to us.

If we call you

We may occasionally call customers, for example to verify activity on your account. A genuine Stake call will never ask you to:

• Share your password, PIN or a verification code (OTP)

• Transfer or move money to another account

• Install an app or software, or share your screen

• Pay a fee to unlock, release or protect your funds

• Read back a code that's just been sent to your phone

Unsure? Hang up and call us back. Contact us through the Stake app under Support. Don't use a number given to you by the caller or one found in a message.

What is it?

Scammers are using AI to make their approaches more convincing. This includes deepfake videos of public figures or "experts" endorsing investments, cloned voices that sound like someone you know, and chatbots posing as financial advisers or support agents.

These tools can mimic real people well, so how someone looks or sounds is no longer a reliable test of who they are.

A few warning signs:

• A video of a celebrity, business leader or finfluencer promoting a "guaranteed" investment
• A call or voice note from a "family member" or "colleague" asking for money urgently
• An "adviser" or "support agent" in a chat who replies instantly, avoids direct questions or pushes you off-platform
• Slightly unnatural speech, odd lip-syncing or a voice that sounds flat or robotic
• Requests to move to WhatsApp, Telegram or another private app

If something feels off, hang up or leave the chat and verify through a channel you trust.

What is it?

There are reports of scammers adding people to group chats without permission before posing as analysts, traders or market experts. 

Using this authority, they promote a stock, crypto asset or ‘foolproof’ or ‘special’ strategy as a guaranteed winner. 

They build trust using falsified social proofing mechanics such as generated screenshots of returns, trading dashboards or made-up testimonials.

Often, they will pressure you to buy now and avoid consulting with your bank, adviser or investment platform (such as Stake).

A few warning signs:

• You’re added to a group chat without consent
• Someone is claiming to be an analyst, expert or senior trader without context or warning
• A stock, crypto asset or strategy is described as a ‘guarantee’ or ‘100% risk-free’
• Members sharing screenshots of excessive profits and/or trading dashboards
• You’re being pressured to act quickly and/or encouraged to act without consulting your bank, adviser or Stake
• Someone is asking for your login details, verification code, or to have remote access to your device

If you spot any of these happening, stop engaging and report it.

Scammers often piece together information from data breaches, social media and public records to build a convincing picture of you. This is called data stitching. They might know your name, address, date of birth, recent purchases or even that you have a Stake account, and use this to sound legitimate.

Just because someone knows your details doesn't mean they're from Stake, your bank or a government agency.

Watch out for:

• Someone confirming your personal details to "verify" themselves, then asking you for more
• References to a real event, like a recent breach, trade or transfer, used to create urgency
• Partial details that sound official, like "the last four digits of your account"
• Pressure to act on the call or in the chat rather than through your Stake app

If in doubt, stop. Contact us through the app or the Contact Us page.

Small measures make a big difference on and off Stake. Here are a few healthy habits to keep top-of-mind. 

• Think before clicking links in emails or text messages
• Be wary of suspicious emails, especially unexpected payment instructions from unfamiliar sources
• Verify unusual requests through official institutional channels. For Stake, use this portal
• Don’t ignore browser security warnings
• Use strong, unique passwords and avoid reusing the same ones across multiple accounts/platforms
• Consider using an authorised password manager
• Turn on two-factor (2FA) or three-factor authentication (3FA) wherever possible 
• Use trusted mobile apps only and always lock your electronic devices when you’re not using them
• Keep software and operating systems up to date. Switch on auto-update whenever possible. 

If you think you’ve been/currently being scammed, act as soon as possible. 

If you’ve been affected, act with haste.

• Contact your bank immediately.
• Contact your local police branch or call 105 to lodge a formal report, and report cybercrime via Own Your Online.
• Report scams to Netsafe.
• Check CERT NZ for cyber security information and updates.
• If the scam was actioned on Stake, alert us immediately via the Contact Us page.
• Ensure you have collected transaction details relating to the event, including screenshots, communication logs, and wallet addresses (if crypto is involved).
• If you’ve invested funds based on a scam, review these investments immediately and consider seeking advice from a licensed financial adviser.

• Bank account details you transferred funds to, if applicable
• Dates and sums involved
• Social media accounts you communicated with 
• Email addresses and/or phone numbers of the suspected scammer
• Screenshots of conversations, profiles, payment instructions or links
• If crypto was involved: wallet addresses and transaction hashes

Review positions immediately. Scam-focused investments are often highly volatile, easily-manipulated or fraudulent. Consider seeking advice from a licensed financial adviser about your next steps.

Fraudsters are likely to target you again or sell your details to other criminals. The follow-up scam may be completely separate or related to the previous fraud, such as an offer to get your money back or to buy back the investment after you pay a fee.

We build security into our products and platform. We're committed to giving you the safest possible investing experience and employ enhanced security measures.

This includes encryption of data in transit, strong authentication mechanisms, secure infrastructure and regular independent security assessments and penetration testing.

When customers update key personal details such as linked bank accounts, contact details or addresses, we conduct further due diligence and verification checks.

We are committed to protecting your personal information. We comply with applicable data protection laws where we operate, including the Privacy Act 2020.

Give your account an added layer of security that requires a code sent to you via SMS or an authenticator app.

Once 2FA is enabled, entering that verification code becomes a mandatory step before access to your account is granted.

• Netsafe - netsafe.org.nz: NZ's online safety organisation, with scam guides and a free helpline (0508 638 723).

• NCSC / Own Your Online - ownyouronline.govt.nz and ncsc.govt.nz: Government cyber security guidance and incident reporting (CERT NZ now sits within the NCSC).

• FMA – Scams and warnings - fma.govt.nz/scams: Investment scam education.