Stuff
Big four banks a highly profitable oligopoly, competition watchdog says
21/03/2024
“We are pleased to see the commission recognises the significant impact regulation has on consumers. Our banks embrace competition and support transparent and easy access to banking services for all New Zealanders.”
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RNZ
No silver bullet to make banking sector more competitive – banking expert, minister
21/03/2024
“Regulatory burden has been a real impost and barrier to innovation, and so if we can get some relief from some of those regulatory requirements, then it will allow banks to become able to spend more time and more resources on innovation.”
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Stuff
How scammers exploit digital naivety
20/03/2024
“But the most important thing you can do is to have a degree of caution and care about anything you do when paying money in an online environment,” Beaumont adds.
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Stuff
Banks find almost 1000 mule accounts operating in NZ
20/03/2024
Banks launched a joint effort to identify mule accounts in December and had found almost 1000 by February, New Zealand Banking Association chief executive Roger Beaumont said.
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Business Desk
FMA fair ‘outcomes’ agenda cops industry flak as misguided
20/03/2024
“We submit that the FMA could make it clearer that the outcomes won’t be used as a tool to penalise financial institutions for outcomes that may seem unfair with the benefit of hindsight,” the NZBA submission says.
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Interest.co.nz
New Zealand Banking Association calls for less restrictive debt-to-income limits for home lending than the RBNZ wants
16/03/2024
Having previously opposed the Reserve Bank introducing debt-to-income restrictions on banks’ home loan borrowers, now they’re going ahead, the New Zealand Banking Association wants them loosened.
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NZ Herald
Scambusters: Opinion – what banks are doing about scams and how others can help
16/03/2024
Scams are not just a bank problem. Banks tend to be at the end of a chain of events that leads to a criminal stealing money from someone. Scams often start when people are deceived by fake websites, emails, texts, social media ads, and phone calls. Everyone needs to play their part in preventing criminals...
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NZ Herald
Scambusters: ANZ bank expert explains money mules
14/03/2024
“Banks were already sharing some information on money mules, but the new phase of work will increase the speed and amount of information being shared,” said NZBA chief executive Roger Beaumont.
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Government support to fight scams welcomed by banks
13/03/2024
The New Zealand Banking Association welcomes the New Zealand government’s support to help fight fraud at the inaugural Global Fraud Summit held in London this week. NZBA chair Vittoria Shortt, who attended the summit on behalf of the New Zealand banking industry, says the commitment to support collaboration across sectors is essential to tackling fraud...
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KPMG
Raising the bar in the fight on scams
13/03/2024
Roger Beaumont Published in KPMG’s Financial Institutions Performance Survey Review of 2023, 13 March 2024 Scams targeting New Zealanders are on the rise, and they’re becoming increasingly sophisticated. The impact can be devastating, with some people losing their life savings. Because of the customer impact, and the fact that banks are often at the end...
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