“To address this properly we need all parties involved including, for example, global tech companies, telcos, internet service providers, government agencies, dispute resolution services, and consumer representatives and advocates.” Matching accounts and names with the customer’s intended recipient had privacy implications that would need to be overcome, Beaumont said.

Banking Association Te Rangapū Pēke chief executive Roger Beaumont sought to cast the issues raised as being caused by anti-money laundering laws.