Scam exposure is concentrating around the major purchases, job moves, and estate matters that intersect with insured transactions, and the mid-career age group insurers most often deal with is the hardest hit. Consumers aged 35 to 44 were scammed during major purchases or investments at higher rates than any other age group, with close to one in four (23%) affected, well above the national average of 14%, according to a study published on July 6, 2026, by TrendLife, the consumer business unit of Trend Micro Incorporated. The finding cuts against the assumption that older consumers carry the most digital risk, and points to the cohort that typically buys homes, vehicles, and the cover attached to them.
TrendLife’s Digital Life and AI Experiences study, which surveyed more than 10,000 consumers across nine markets including over 500 New Zealanders, found scam exposure concentrated at specific life events. Close to one in four New Zealanders had been scammed, or knew someone close to them who was, while making a major purchase or investment such as a car or property (24%). Job interview processes followed at 19%, then moving to a new address, applying for government benefits or income tax support, and starting a new job or contract role, each at 17%, and dealing with a deceased relative's will or estate at 16%.
Several of these moments map directly onto insured transactions, from motor and property purchases to estate settlement. TrendLife reported that 40% of New Zealanders use AI tools to support major life events and 55% share personal information during these processes. “Major life moments like job interviews or buying a house often involve big decisions and unfamiliar parties. That’s exactly what scammers exploit. These attacks feel more convincing because they’re tied to real events in people’s lives, when they are already sharing sensitive information,” said Lynette Owens, vice president of consumer education and marketing at TrendLife.
Official figures corroborate the scale. The National Cyber Security Centre (NCSC) recorded $26.9 million in direct financial loss reported by victims in the 2024/25 year, up from $21.6 million the previous year, with scams and fraud the most-reported incident category. Losses reached $12.4 million in the third quarter of 2025 alone, a 118% quarterly increase driven by business email compromise. Broader survey work aligns with the life-moment pattern: the Global Anti-Scam Alliance and Netsafe’s State of Scams in New Zealand 2025 report found that 82% of New Zealanders had encountered a scam and 23% had lost money, with national losses estimated at nearly $3 billion, equivalent to 0.75% of GDP.
TrendLife’s data shows awareness lagging behind adoption. On identifying AI-generated scams and deepfakes, 24% of New Zealanders said they were not confident they could spot one, and 34% were either unaware of the risks of sharing personal information with AI tools or unsure of the specifics. Concern outpaced action: 51% were very or extremely concerned their information could be misused, yet only 42% declined to allow their data to be used to train AI models, and 62% used no security protection on their personal mobile device.
For personal-lines insurers, the 35-to-44 finding places the peak-exposure group at the very point of buying the motor vehicle or home a policy will cover – the moment a purchase scam and a new cover inception can coincide.
The fraud typology bears directly on insurance. The Ministry of Business, Innovation and Employment (MBIE) reported that New Zealanders lost a gross $265 million to fraud over 12 months, according to Payments NZ’s first Reported Fraud Monitor, which aggregated data from 12 banks. Of that total, about $126 million involved authorised payment scams, where people were tricked into approving transactions themselves, and $84 million came from compromised credentials scams, categories that mirror the business email compromise, invoice fraud, and account takeover losses insurers price and investigate. MBIE applied a revised Payments NZ methodology, so the figures are not directly comparable with prior years. “These figures show that scams are not only widespread but also increasingly deceptive. It’s critical that people stay alert and take steps to protect themselves and their finances,” said MBIE spokesperson Ian Caplin.
The connection runs into policy wordings. Invoice-fraud losses of the authorised-payment type typically respond under a cybercrime extension, which is often sublimited rather than part of the core cyber section, and cover frequently turns on whether the insured operated a documented out-of-band verification step for changes to payment details. Underwriter DUAL New Zealand has described a claim in which an attacker impersonating an IT staff member obtained a chief financial officer’s credentials and diverted supplier payment runs, resulting in a fraudulent transfer of more than $75,000 that the insured’s cyber response managed. Exposure is also widening: NCSC reported that 53% of New Zealand small and medium-sized enterprises experienced a cyber threat in the first half of 2025, up from 36% in 2024, with business email compromise and phishing among the most reported categories.
The regulatory perimeter is moving. The New Zealand Anti-Scam Alliance, coordinated by MBIE and established in July 2025, published its 2026 work programme, which includes a framework to guide sector-specific scam prevention codes; the insurance sector is not named, but the framework positions it as a mechanism through which formal obligations could eventually reach insurers. Insurer payment flows most exposed to authorised push payment fraud – claims settlement, payments to suppliers and repairers, and premium refunds – are precisely the transactions the banks’ Confirmation of Payee service is designed to protect.
Bank-side reforms have already reset expectations on liability. The New Zealand Banking Association’s updated Code of Banking Practice took effect on Nov. 30, 2025, introducing five scam protection commitments and compensation for eligible authorised push payment scam victims where a bank fails to meet them. The scheme is voluntary, however, and does not cover losses where the customer was buying goods or services on social media or an online marketplace, leaving a protection gap adjacent to some of the consumer purchases the TrendLife data flags.
Owens said the shift online raises the stakes for verification. “New Zealanders need to know how to verify who they are dealing with, be wary of messages designed to create urgency, and slow down before acting,” she said.
TrendLife said the research ran from March 25 to April 3, 2026, among 10,350 consumers aged 18 and older across nine markets, including 514 in New Zealand, with data weighted for national representativeness by age, gender, and household income.
