{"id":61163,"date":"2023-09-15T00:43:51","date_gmt":"2023-09-15T04:43:51","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/new-zealand-banks-to-introduce-new-measures-to-prevent-scams\/"},"modified":"2023-09-15T00:43:53","modified_gmt":"2023-09-15T04:43:53","slug":"new-zealand-banks-to-introduce-new-measures-to-prevent-scams","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=61163","title":{"rendered":"New Zealand banks to introduce new measures to prevent scams"},"content":{"rendered":"
\n

By Lucy Craymer<\/p>\n

WELLINGTON (Reuters) – New Zealand banks on Friday said they would introduce new steps to counter scams targeted at its customers including establishing a national Anti-Scam centre, combining resources to combat money laundering and increasing public awareness.<\/p>\n

Roger Beaumont, chief executive of the New Zealand Banking Association, which represents all large banks based in New Zealand, said in a statement that the joint commitment by retail banks is expected to have a positive impact in tackling fraud and scams.<\/p>\n

In the second quarter of 2023 1,950 scams were reported with people losing NZ$4.2 million ($2.48 million), according to data from the New Zealand government\u2019s Computer Emergency Response Team.<\/p>\n

Beaumont said the banking industry would support the establishment of a centralised, co-ordinated national Anti-Scam Centre, instigate an account name checking service, commit to remove all web links from texts to customers and investigate sharing real time information between organisations impacted by scams.<\/p>\n

The timing of each of these initiatives will vary depending on their complexity and feasibility, he said.<\/p>\n

Australia, where four of New Zealand\u2019s largest retail banks are headquartered, is also introducing similar new measures. It has introduced a specialist unit of government, law enforcement and private sector people to try and disrupt scams and reduce losses.<\/p>\n

($1 = 1.6915 New Zealand dollars) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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