NZ Herald
Consumer watchdog calls for banks to refund scam victims who lose money due to payment system loophole
14/09/2023
“Our retail banks already have systems in place to help detect and warn customers about potential scams and the further initiatives announced by the industry today are expected to have a significant impact in combatting scams. But we have reached a point where a new approach to fighting fraud and scams is required and this...
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NZ Herald
Financial losses from cyber incidents down, says Cert – but survey indicates huge under-reporting
12/09/2023
“Scam-related crime is increasingly sophisticated and constantly evolving. Scams go much wider than banks, which are usually at the end of the chain of events that makes up a scam that tricks you into paying a criminal or allowing them access to your bank account.”
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NZ Herald
Financial expert Janine Starks calls for Banking Ombudsman to jointly investigate scam cases, cites ‘negligence’ by banks
12/09/2023
“There’s no silver bullet for solving scams and what’s needed is a multi-pronged approach and the involvement and investment of all affected sectors, including government agencies, telcos, social media companies, and internet service providers.”
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Newsroom
Heartland breaks ranks to allege ‘distorting’ behaviour by big banks
12/09/2023
The Banking Association, which represents all 18 registered banks, has not made a submission to the Commerce Commission inquiry, at this stage. Chief executive Roger Beaumont says he doesn’t intend to comment on others’ submissions, including those of the association’s member banks. “We wish to respect the market study process and let it run its course.” he says.
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Stuff
Banks and insurers say they didn’t lobby National to scrap ‘fair conduct’ laws
18/08/2023
The Banking Association and the FSC said they were ready to work with whatever government was voted into power at the October general election. The Banking Association noted that the Government had already committed to reviewing the lending law changes National intended to repeal.
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NZ Herald
Tinder ‘swindler’ scam: Parliament briefing calls for banks’ processes to be strengthened
17/08/2023
The committee also recommended the Government urge the New Zealand Banking Association to update its Code of Banking Practice to “offer further measures that help protect consumers from scams and fraudulent activity”.
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TVNZ
Call Centre Olympics: Fair Go tests bank call centre response times
16/08/2023
“Name to number matching is a complex issue, impacting customer privacy and account name practices,” said NZ Banking Association chief executive Roger Beaumont.
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Newsroom
Big banks’ smalltown challengers find hope in profits inquiry
11/08/2023
“Our banks are highly regulated, well capitalised, and profitable,” says Roger Beaumont. “That helps makes them resilient, and with recent overseas bank failures we’ve seen why that’s important.”
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Newsroom
‘It’s going to be messy’: Banks underestimate threat of climate change
11/08/2023
“Climate reporting entities’ ability to correctly assess the full future physical risk from climate change will improve as they both gain a better understanding of which global scenario/pathway that we are heading down and as they gain better modelling capability to understand the physical risks that climate change creates within each scenario,” he says.
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Interest.co.nz
Commerce Commission says which bank gets our savings and home loans could reveal whether there’s enough bank competition
10/08/2023
Industry group, the New Zealand Banking Association, said the Commerce Commission’s preliminary issues paper was comprehensive and shows an understanding of key issues in personal banking.“In particular, the focus on the significant current regulatory requirements as well as those in train will provide important context to competition and barriers in the industry.”
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