ASB says an impersonation and investment scam currently doing the rounds uses text messages and then an invitation to connect on WhatsApp.

The bank said the scam promised “too good to be true” investment opportunities and falsely claimed to be from ASB Securities.

The scammers asked potential victims to connect over WhatsApp and other channels, then click on a link to log into their “investments” or bank account.

Brodie Macdonald, ASB GM for fraud and scams, said the scammers seemed to be taking advantage of current market uncertainty.

Macdonald said in the current turbulent environment, investments could be front of mind for many people.

Local sharemarket investor sentiment has been subdued, with the Sharesies Index falling into the “cautious” range in the first quarter as worries about US tariffs mounted.

Other issues potentially worrying some investors included inflation creeping back up and volatile sharemarkets.

Macdonald said at such times, people might be more susceptible to act quickly and potentially miss some of the red flags around scams.

“I encourage everyone to be vigilant, particularly if you’re asked to make a payment or provide sensitive information,” Macdonald said.

“Anyone can fall victim to a scam, and staying alert to scammers is our first defence.”

She said the bank’s fraud experts were available at all times, including over the public holidays.

ASB Securities is the bank’s share trading platform.

The bank said anyone who clicked on a suspicious link or handed over their payment details should block their cards and contact their bank immediately.

People receiving a suspicious text could report the message to the Department of Internal Affairs for free by forwarding it to 7726.

Macdonald said ASB customers affected could phone the bank by calling 0800 ASB FRAUD (0800 272 372).