This festive season the New Zealand Bankers’ Association is reminding people to watch out for financial crime.
“While many of us are rushing to get ready for Christmas, fraudsters are also busy trying to access our bank accounts. They’re always looking for opportunities to steal our money, especially when we let our guard down,” says New Zealand Bankers’ Association acting chief executive Antony Buick-Constable.
“So when you’re Christmas shopping or catching up with friends and family, take care online and when you’re out using your card.”
If you’re using your card to pay for gifts, or out on the town, here are some tips to help keep your money safe:
- Guard your card. Make sure you know where it is at all times.
- Protect your PIN. Never tell anyone your PINs or passwords – not even the Police, bank staff, friends or family.
- Cover up. When entering your PIN number at ATMs and payment terminals, shield the PIN pad with your other hand.
More information about protecting your PIN and password is available here:
https://www.nzba.org.nz/consumer-information/fraud-protection/how-to-protect-your-pin-and-password/
When shopping and banking online:
- Only make payments on secure websites with a padlock symbol in the address bar.
- Don’t share your bank account login details, or password with anyone – not in person, online, over the phone, or in emails or texts.
- Use two-factor authentication (2FA) where available. It provides an extra layer of protection on top of your password.
- Avoid public computers and Wi-Fi, e.g. in cafés and libraries, etc. They may not be secure.
More information on how to keep yourself safe from online scams is available here:
If you think you’ve been the victim of fraud, contact your bank as soon as possible.
ENDS
Our banks stand by their agri clients in good times and bad.That was particularly evident during the dairy downturn. It makes sense for farmers to have a look at their financial management in better times.
NZBA’s acting chief executive Antony Buick-Constable, said: “The report represents an opportunity for the New Zealand banking industry to retain the confidence of our customers and ensure a solid foundation for banking in future. We are ready to take that opportunity.
“As with most businesses bank CEOs have levels of responsibility ordinary staff members wouldn’t have. In the New Zealand banking industry it includes responsibility for around 25,000 staff, over $13b in shareholders’ capital and over $300b in customer deposits.”
Antony Buick-Constable of the New Zealand Bankers’ Association says: “Customer demand for innovation suggests that open banking is something we should be looking at, and it is.”
Productivity Commission
Buick-Constable said about 80 per cent of the Australian market was floating, whereas in New Zealand 80 per cent was fixed.
Financial Markets Authority
NZX
Stop and Think: is this for real? That’s the message for Fraud Awareness Week 2018 and the New Zealand Bankers’ Association is urging people to do just that.
“Fraudsters are always coming up with new ways to steal our money. They trick people into handing over personal information. Once they have your bank account details and PIN or password they can access your identity and your money. In some cases they may try to scare or blackmail you into paying them or handing over information,” says New Zealand Bankers’ Association acting chief executive Antony Buick-Constable.
“We strongly encourage people to stop and think, and ask themselves: is this for real?
“It’s okay to take some time and be a bit suspicious. For example, beware of email or phone calls from people you don’t know. Avoid clicking on email links or downloading unknown software. Don’t share PINs and passwords with anyone. Only give personal information to people and organisations you trust.
“Personal information includes your date of birth, address, driver’s licence and passport details, and bank statements. Anyone who asks for these out of the blue will likely be trying to scam you.
“Fraudsters may pretend to be your bank, a government agency, a retailer or someone you trust.
“Your bank will never ask you to disclose your log in details, password or PIN to staff over the phone, in an email or in person.”
For more tips on how to protect yourself and your money, see: https://www.nzba.org.nz/consumer-information/smarter-banking/fraud-safety-cybersecurity/
NZBA also has information about keeping yourself safe online here:
Fraud Awareness Week runs from 11 to 18 November. It is a cross-sector initiative encouraging people to recognise scams before they happen.
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