Survivors Remember
- It was not your fault!
- You are a survivor!
- You are stronger than you know!
- You are not alone!
- Axios! You are worthy!
- Vera! It’s all true!
To get help, please visit ScamVictimsSupport.org and sign up for the SCARS Institute Support & Recovery Program at support.AgainstScams.org
My Scam Victim Story/Survivor Story #79
Investment Scam
Survivor’s Country: NEW ZEALAND
This is the original victim’s story, enhanced by the SCARS Institute Editorial Team to improve comprehension, readability, and continuity. The names were changed to protect the survivor’s identity.
WARNING: THIS SCAM VICTIM/SURVIVOR’S STORY MAY BE TRIGGERING TO SOME PEOPLE. DISCRETION IS ADVISED.
ADVERTENCIA: LA HISTORIA DE ESTA VÍCTIMA/SOBREVIVIENTE DE ESTAFA PUEDE SER INSENSIBLE PARA ALGUNAS PERSONAS. SE RECOMIENDA DISCRECIÓN.
If you need help, join our free SCARS Institute Support and Recovery Program at support.AgainstScams.org
Si necesita ayuda, únase a nuestro Programa gratuito de Apoyo y Recuperación del Instituto SCARS en support.AgainstScams.org
My Scam Victim Story
My name is Sarah, a 47-year-old real estate agent from Wellington, New Zealand, and I never thought I’d be sharing a story like this.
Earlier this year, I lost my entire life savings of $100,000 to a sophisticated investment scam that left me heartbroken and terrified. I’m speaking out now to warn others, hoping no one else falls into the same trap I did. If a tech-savvy professional like me can be deceived, I’m certain others are at risk too.
It all began in January 2025, when I decided to explore investment opportunities to grow my savings. I had been working hard to save for a house in Wellington’s competitive market, and I wanted to ensure my money was working for me. One evening, while browsing online, I found a website comparing bank term deposit rates. It looked legitimate, so I registered my details, thinking I was being proactive about my financial future. A few days later, I received a call from a man named James Carter. He had a polished English accent, spoke intelligently, and claimed to be a portfolio manager at a major financial institution. He sent me prospectus information about fixed-rate bonds and term deposit options, offering a 12-month fixed-term investment at 7.1 percent interest, which he described as “low-risk.” The email address he used appeared to be from the institution, and he provided a Wellington phone number, which made me feel secure.
James and I spoke multiple times over the next week. I pride myself on being cautious, so I researched him extensively. I searched online to confirm he was a real employee based at the company’s downtown Wellington office, and everything seemed to check out. The investment opportunity looked promising, and I felt confident I had done my due diligence. There were no red flags, at least none I could see. Satisfied, I provided my passport, address, and bank account details, believing I was taking a smart step toward financial growth. On February 17, I visited my local bank branch in Wellington and instructed the staff to transfer $100,000 to the specified account, which was listed on a branded payment invoice from the financial institution. The recipient account was at another major New Zealand bank, which didn’t strike me as unusual at the time.
Shortly after, James emailed me login details for an online “client portal.” I logged in and saw my $100,000 deposited into the term deposit account, with a tracker showing my investment accruing interest. It felt so real, and for a moment, I was proud of my decision. But none of it was genuine. The entire setup—the website, the portal, the branded invoice was a facade. James had been impersonating a real employee of the financial institution, and my money was gone, stolen in a scam that authorities in New Zealand and Australia had been tracking since 2024.
A month later, in March, I received a devastating call from my bank. A staff member said, “You’ve been involved in a scam.” I was in disbelief. “No, that’s not possible,” I replied, hanging up the phone in a panic. I rushed to my bank branch, where the staff confirmed the worst: I had been deceived. I burst into tears right there in the lobby. That $100,000 was my entire nest egg, the result of years of hard work and careful saving. The loss felt like a punch to the gut, and the heartbreak was overwhelming.
The scammer’s phone number was now disconnected, leaving me with no way to reach James. I contacted the Wellington police, who obtained a court order to access the recipient account holder’s details from the other bank. However, the police informed me that the account holder was likely a “mule”, someone either manipulated by the scammers, possibly through a romance scam, or whose internet banking had been hacked to move the stolen funds. Meanwhile, my bank worked to freeze the money to prevent its transfer overseas, but the process was slow and uncertain.
I sent multiple emails to my bank’s fraud protection unit, desperate for updates. In one email, I wrote, “This is my entire nest egg. I am beyond devastated that this has happened.” In another, I expressed my frustration: “I find it impossible to believe that funds of this magnitude can just go missing and not be tracked and retrieved immediately.” The bank responded that the money had been transferred out of the recipient account, and the other bank was attempting to recall it, but there was little more they could do at the time. Then, last week, a mysterious payment of $19,703.63 appeared in my savings account, labeled as a fraud recovery, but neither bank provided an explanation or clarified the status of the remaining funds. I was left in the dark, wondering if I’d ever see the rest of my money.
Reflecting on the experience, I believe my bank should have questioned the initial $100,000 transfer. The payment invoice, branded with the financial institution’s logo but listing an account at another bank, should have raised suspicions. Yet no one at my branch confirmed the recipient’s legitimacy with me. Now, I’m worried the scammers have my address, and I asked the police if I needed to move for my safety. They reassured me the scammer was likely overseas, but the fear lingers.
I later learned about resources like the SCARS Institute, which helps scam victims navigate recovery. Their advice has been invaluable, reminding me to focus on rebuilding trust in myself. This scam preys on people’s trust in reputable brands, mimicking legitimate firms so closely that even careful individuals like me can be fooled. I urge others to be cautious: always contact investment firms through their official New Zealand-based websites, and never trust unprompted emails, links, or phone numbers. My story is a warning—if I can fall for this, anyone can.
How did this story impact you?
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PLEASE NOTE:
In the case of Scam Survivor’s Stories: The SCARS Institute displays this story to help recent scam victims. We are authorized to display this story and in this form or edition is copyright © Society of Citizens Against Relationship Scams Inc. All rights reserved. The specific survivor’s identity has been anonymized for their protection. Photos are generated and are not of the real person.
In the case of the Criminal’s Stories: The SCARS Institute presents the Criminal Stories to assist scam victims in understanding that criminals are real individuals, despite their terrible actions, and we can gain valuable insights from their experiences to prevent crime and identify these schemes as they emerge. We aim to support victims and survivors in releasing the emotions they harbor toward the criminals, fostering a path toward potential forgiveness over time.
Important Information for New Scam Victims
- Please visit www.ScamVictimsSupport.org – a SCARS Website for New Scam Victims & Sextortion Victims
- SCARS Institute now offers a free recovery program at www.SCARSeducation.org
- Please visit www.ScamPsychology.org – to more fully understand the psychological concepts involved in scams and scam victim recovery
If you are looking for local trauma counselors, please visit counseling.AgainstScams.org
If you need to speak with someone now, you can dial 988 or find phone numbers for crisis hotlines all around the world here: www.opencounseling.com/suicide-hotlines
A Question of Trust
At the SCARS Institute, we invite you to do your own research on the topics we speak about and publish. Our team investigates the subject being discussed, especially when it comes to understanding the scam victims-survivors’ experience. You can do Google searches but in many cases, you will have to wade through scientific papers and studies. However, remember that biases and perspectives matter and influence the outcome. Regardless, we encourage you to explore these topics as thoroughly as you can for your own awareness.
SCARS Resources:
- Getting Started For New Victims of Relationship Scams: ScamVictimsSupport.org
- FREE enrollment in the SCARS Institute training programs for scam victims SCARSeducation.org
- Subscribe to SCARS Newsletter newsletter.againstscams.org
- Sign up for SCARS professional support & recovery groups, visit support.AgainstScams.org
- Find competent trauma counselors or therapists, visit counseling.AgainstScams.org
- Report each and every crime, learn how to at reporting.AgainstScams.org
- Learn more about Scams & Scammers at RomanceScamsNOW.com and ScamsNOW.com
- Learn more about the Psychology of Scams and Scam Victims: ScamPsychology.org
- For Scam Victims Advocates: www.ScamVictimsAdvocates.org
- Self-Help Books for Scam Victims are at shop.AgainstScams.org
- Worldwide Crisis Hotlines: International Suicide Hotlines – OpenCounseling : OpenCounseling
- Campaign To End Scam Victim Blaming – 2024 (scamsnow.com)
More Survivor Stories
More Criminal Stories
A Note About Labeling!
We often use the term ‘scam victim’ in our articles, but this is a convenience to help those searching for information in search engines like Google. It is just a convenience and has no deeper meaning. If you have come through such an experience, YOU are a Survivor! It was not your fault. You are not alone! Axios!
Statement About Victim Blaming
Some of our articles discuss various aspects of victims. This is both about better understanding victims (the science of victimology) and their behaviors and psychology. This helps us to educate victims/survivors about why these crimes happened and not to blame themselves, better develop recovery programs, and to help victims avoid scams in the future. At times, this may sound like blaming the victim, but it does not blame scam victims; we are simply explaining the hows and whys of the experience victims have.
These articles, about the Psychology of Scams or Victim Psychology – meaning that all humans have psychological or cognitive characteristics in common that can either be exploited or work against us – help us all to understand the unique challenges victims face before, during, and after scams, fraud, or cybercrimes. These sometimes talk about some of the vulnerabilities the scammers exploit. Victims rarely have control of them or are even aware of them, until something like a scam happens, and then they can learn how their mind works and how to overcome these mechanisms.
SCARS Institute articles can help victims and others understand these processes and how to help prevent them from being exploited again or to help them recover more easily by understanding their post-scam behaviors. Learn more about the Psychology of Scams at www.ScamPsychology.org and www.ScamsNOW.com
Psychology Disclaimer:
All articles about psychology and the human brain on SCARS Institute websites are for information & education only
The information provided in SCARS Institute articles is intended for educational and self-help purposes only and should not be construed as a substitute for professional therapy or counseling.
Note about Mindfulness: Mindfulness practices have the potential to create psychological distress for some individuals. Please consult a mental health professional or experienced meditation instructor for guidance should you encounter difficulties.
While any self-help techniques outlined herein may be beneficial for scam victims seeking to recover from their experience and move towards recovery, it is important to consult with a qualified mental health professional before initiating any course of action. Each individual’s experience and needs are unique, and what works for one person may not be suitable for another.
Additionally, any approach may not be appropriate for individuals with certain pre-existing mental health conditions or trauma histories. It is advisable to seek guidance from a licensed therapist or counselor who can provide personalized support, guidance, and treatment tailored to your specific needs.
If you are experiencing significant distress or emotional difficulties related to a scam or other traumatic event, please consult your doctor or mental health provider for appropriate care and support.
If you are in crisis, feeling desperate, or in despair, please call 988 or your local crisis hotline.
It was a complex and believable scheme, many other people could fall for such a scam. And I totally relate with the thoughts you mention, like thinking one would never fall for a scam. I myself thought that way and fell for a scam as well. We are never too ready for a scam. But it is good thtñat you found SCARS and are learning to better protect yourself.