New Zealand's banking watchdog says they're worried there are a growing number of Kiwis being targeted twice by scammers.
In one case, a man lost $350,000 in an investment scam - only to lose another $45,000 to a second scam.
Banking Ombudsman Nicola Sladden said situations like these were becoming more common through "recovery room scams" that target those who have already lost money.
Recovery room scammers pose as online agencies that offer to help scam victims recover their funds - for an upfront fee.
In the man's case, he was pressured into making a payment because he was told it was required to try and retrieve his money, Sladden said.
Despite the agency’s website saying it offered a 100% money-back guarantee and was successful in more than 95% of cases, the customer never saw any of his money again.
Sladden said recovery room scammers claim to be experts in recovering funds and claim to work with customers to build a strong case to force the return of money from the original scammer. But these so-called experts have a poor understanding of banking practices and laws in New Zealand.
"These arguments serve only to confuse the situation and result in delays or misunderstandings that can hinder banks’ efforts to recover payments," she said.
"Invariably, victims lose even more money - and involving such agencies sometimes prejudices their ability to recover their funds."
Sladden encouraged people to ask their bank directly for help instead.
She also urged banks to do more to support scam victims by letting them know what options they can take.
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