Month: September 2023

Consumer NZ calls on banks to act faster to battle scams

The NZ Banking Association said last week that the industry was focusing on a number of initiatives to fight fraud and scams, including real-time information sharing between organisations affected by scams, and a confirmation of payee account name checking service.

New Zealand banks take scam-preventing measures

According to the New Zealand Banking Association, banks have made significant investments when it comes to fraud analytics and prevention. These investments aim to help identify unusual spending on credit cards and check with customers before processing those payments, as well as warn of potential scams when customers make payments in suspicious circumstances.

NZBA launches new initiatives against scams and fraud

NZBA is backing the establishment of an anti-scam centre, similar to that in Singapore, to “provide a centralised and coordinated multi-sector approach to fighting scams from a New Zealand-wide perspective.”

Banks initiate anti-scam centre to combat rise in fraud

“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… Read more »