- The Banking Ombudsman Scheme has been providing a free and independent disputes resolution service for 25 years. That’s an important milestone for banks customers, and something worth celebrating, says the New Zealand Bankers’ Association. “The Banking Ombudsman has made an incredibly valuable contribution to banking in New Zealand since 1992,” says New Zealand Bankers’ Association... Read more »
- New tax law that comes into force on 1 July will require banks to provide Inland Revenue with tax information for certain customers. The new law, aimed at reducing global tax evasion, means that banks and other financial institutions will need to identify accounts held by foreign tax residents. They will then have to report... Read more »
- The New Zealand Bankers’ Association is encouraging people to look for the signs of financial elder abuse as part of Elder Abuse Awareness Week. “Financial elder abuse is the illegal or improper use of older people’s money, property and other assets. This kind of abuse is a very real risk for older New Zealanders. It’s... Read more »
- The New Zealand Bankers’ Association today called for public submissions on its review of the Code of Banking Practice. “We’re proposing a new-look, principles-based Code,” says New Zealand Bankers’ Association chief executive Karen Scott-Howman. “The current Code is quite prescriptive, and has largely come to duplicate bank terms and conditions. A principles-based approach is meant... Read more »
- The government’s prudent financial management provides a solid grounding for the New Zealand economy, households and businesses, says the New Zealand Bankers’ Association today in response to Budget 2017. “There were no major surprises in today’s Budget. It builds on the government’s prudent approach to managing its finances and meeting our needs in a growing... Read more »
- The recent global randsomware attack provides a grim reminder to protect yourself online, says the New Zealand Bankers’ Association in Fraud Week 2017. “The convenience of banking and shopping online means we sometimes forget that fraudsters are always looking for new ways to steal our money. The recent ransomware attacks around the world reminds us... Read more »
- As part of Privacy Week the New Zealand Bankers’ Association is reminding people how to keep their banking safe from financial crime. “Banks take their customers’ privacy and confidentiality very seriously by protecting their systems and customer information. We all have a role to play in keeping our money safe from fraudsters,” says New Zealand... Read more »
- Westpac chief executive David McLean has been elected chair of the New Zealand Bankers’ Association for 2017/18 and took on the role on 1 April. Kiwibank chief executive Paul Brock was elected deputy chair. David McLean says it’s a privilege to be elected chair and he is confident NZBA will continue to promote outcomes that... Read more »
- KPMG’s Financial Institutions Performance Survey for the 2016 financial year has found that the strength of the New Zealand banking sector continues to underpin its performance. “The strength of New Zealand’s banks continues to provide a solid platform for our economic growth. Our banks are well capitalised and regulated, and highly competitive. That means they’re... Read more »
- The New Zealand Bankers’ Association has issued a warning to beware fraudsters pretending to be utility companies and banks who are targeting elderly people. “Never give out bank account usernames, passwords, PINs or verification codes. While your bank may ask questions to confirm your identity, it will never ask for this confidential information. “If in... Read more »
