Indian community warned of four money transfer scams

The average loss was $6,467.22 last year (Getty Images)

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Wellington, February 8, 2022

Over the past two years, New Zealand has witnessed an increasing number of financial scams that have affected customers across the country.

In fact, data show that The Kiwis lost $5 million to scammers in just three months in 2021.

WorldRemit, a leading global payments company, has identified the top four money transfer scams occurring in 2021 that Indo-New Zealand residents, especially those new to the country, should watch out for.

Four scams

The four scams include email scams such as tax scams where scammers pose as the ATO, online dating scams where scammers can play on emotional triggers to trick you into sending money , online shopping scams such as overpayment scams where scammers ask you to “refund” an overpayment before you realize the credit card has been stolen or a receipt from payment is fake, and Facebook impersonation scams, including money flip scams that promise quick money if you invest.

David Dry, Director, Regional Compliance, WorldRemit

WorldRemit Director, APAC Regional Compliance, David Dry, said the company takes online security very seriously and knows many of the tricks and techniques behind some of the most popular scams.

“We want to educate our Indian-New Zealanders about what scams look like so residents can understand what to avoid and stay alert to protect themselves. Always check who is asking you to send money and if you are not comfortable with the transaction, do not proceed with it. Also avoid using third-party intermediaries or agents who offer to transact on your behalf, and if you need to transfer money overseas, once you have verified the recipient, use a transfer service trusted money providers like WorldRemit to make sure your money arrives. on time.”

Mr. Dry shared top tips for avoiding these four popular money transfer scams.

Tips to avoid email scams: Do not click on links or open attachments in unsolicited email. Check that the sender’s email address matches the website address of the organization it came from. Beware if the email doesn’t use your name and says something like “Dear Customer”. Avoid emails with a sense of urgency, asking you to act immediately. Beware of emails with bad grammar and spelling mistakes. Never share personally identifiable information with anyone who has contacted you unsolicited. This includes bank and credit card information, your date of birth, and your social security/social insurance numbers. Keep your devices updated with antivirus software to protect you from any malware.

Tips for avoiding online dating scams: Do not trust anyone who asks you to share money, gifts, or bank account/credit card details. Use social media and online channels to see if their dating profile is consistent with their other online profiles. As a general rule, we advise you not to send money to someone unless you have met them in person or via video.

Tips to avoid online shopping scams: Make sure the website has ‘https’ in the URL (the extra ‘s’ is for ‘secure’) and a small padlock icon on the address bar. Even then, the site might not be reliable. Read reviews about the quality of merchandise and make sure you’re not buying cheap and/or counterfeit products. Check the website for a clear refund policy and contact method if you have a customer question. The website must not include an option to use an IMT to make payment.

Tips to avoid identity theft scams: Don’t accept friend requests from people you don’t know and have never met. Do not share your password with others. When logging in, use two-factor authentication. Avoid connecting to public and free Wi-Fi networks. Keep your browser and apps up to date. Add a layer of security and use proactive cybersecurity software.

About WorldRemit

We are a leading global payments company and, together with Sendwave, part of Zepz, a group that powers two global payment brands.

We have disrupted an industry previously dominated by legacy offline players by bringing international money transfers online, making them safer, faster and cheaper.

We currently send from 50 countries to recipients in 130 countries, operate in over 5,000 money transfer corridors globally and employ over 1,200 people globally.

On the sending side, WorldRemit is 100% digital (cashless), which increases convenience and strengthens security. For those receiving cash, the company offers a wide range of options including bank deposit, cash pickup, mobile airtime recharge, and mobile money.

Backed by Accel, TCV and Leapfrog – WorldRemit is headquartered in London, UK, with regional offices in the US, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, in the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

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