FMA issues warning about bogus interest rate site

The FMA's Paul Gregory said the website is harvesting user information for criminal gain. (Image: FMA)

Mon, 19 Jun 2023

The Financial Markets Authority (FMA) believes a fixed interest rate comparison site is "phony" and is harvesting users' personal information for criminals to sell fake investments.In its consumer warning, the financial products regulator said while the Compare Fixed Term Deposits website (CFTD) claims to offer consumers a way to compare all registered fixed-income investments in New Zealand, the site doesn't actually contain comparison information but rather asks users to provide personal details so a third party can contact...

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