NZ banks stepping up moves to protect customers from scams with reimbursement for victims of up to $500k, but warn they can’t take on full liability for scam losses beyond their control

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“Banks will use this time to ensure the new consumer protections work well from the start. That includes designing and implementing changes to each bank’s systems, processes, and staff training, alongside other change priorities. The updated Code of Banking Practice will go live on 30 November 2025 once all the new measures are in place.”

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