New Zealanders lost a gross total of $265 million to fraud over the past 12 months, according to the first Reported Fraud Monitor report by Payments NZ.

The report provides a comprehensive overview of fraud reported by 12 banks, highlighting the most common scams affecting Kiwis.

Payments NZ has used an updated methodology to provide a clearer picture of reported fraud, meaning the figures are not directly comparable with those from previous years.

Ministry of Business, Innovation and Employment, spokesman Ian Caplin said the scale of losses showed the serious impact scams had on everyday New Zealanders.

“Of the $265 million defrauded, about $126 million involved authorised payments where individuals were tricked into approving the transaction themselves.

“The remaining $139 million came from unauthorised transactions where scammers accessed accounts without the account holder’s knowledge.”

Products and services scams accounted for the largest losses at $76m, followed by compromised credentials scams at $84m and relationship and trust scams at $31m.

Together, these three scam types made up nearly three-quarters of the total amount defrauded.

Caplin said scams were becoming increasingly deceptive and urged people to stay alert.

Fraud Awareness Week 2025 encourages New Zealanders to follow three steps: Stop, Check, Report.

Caplin said people should pause before responding to unexpected messages or calls and verify the sender’s identity by searching online.

“Taking a moment to check could be the difference between keeping your money safe and losing it to a scam,” he said.

Resources for reporting scams are available at consumerprotection.govt.nz/scamwatch.