Latest news with #NewZealandAnti-ScamAlliance
Scoop
10-07-2025
- Business
- Scoop
Banking Ombudsman Scheme Welcomes Establishment Of The New Zealand Anti-Scam Alliance
The Banking Ombudsman Scheme welcomes the announcement of the New Zealand Anti-Scam Alliance, recognising it as a significant and timely step toward a more coordinated and proactive response to scams in Aotearoa. "We have been calling for stronger, sector-wide action to prevent scams for some time," says Nicola Sladden, Banking Ombudsman. "The establishment of the Anti-Scam Alliance reflects growing recognition of the need for collaboration, and we're pleased to support its work." In addition, the Scheme welcomes an upcoming expansion of its jurisdiction to include complaints about receiving banks-those whose accounts are used to receive stolen funds. This change enables a more complete assessment of scam-related complaints and supports accountability across the banking system. "Preventing scams requires a united approach across industry, government, and consumer groups," says Sladden. "We remain committed to supporting the Alliance and continuing our work to protect New Zealanders from financial harm."
Scoop
10-07-2025
- Business
- Scoop
New Zealand Launches Anti-Scam Alliance
Hon Scott Simpson Minister of Commerce and Consumer Affairs Important progress in the fight against online financial scams has been made with the launch of a new initiative between government, industry and consumer groups, Commerce and Consumer Affairs Minister Scott Simpson says. 'It is unacceptable that so many Kiwis are swindled by scammers every day,' Mr Simpson says. 'Some reports suggest scams cost the economy up to $2 billion annually, and it is crucial we get on top of the problem. 'That is why I'm pleased to announce the NewZealand Anti-Scam Alliance – a new national effort that seeks to reduce the number of Kiwis falling victim to online financial scams. 'Up until this point New Zealand's anti-scam efforts have developed in an ad-hoc way and suffered from a lack of coordination. We frequently hear that real-time information on scams is sourced from different areas across government and the private sector, making for a fragmented, and often, slow response. 'The Alliance addresses this by establishing a formal structure for government agencies, banks, telecommunications companies, digital platforms sectors, and consumer groups to share data about scams and shut them down in real-time. 'By better coordinating our efforts across industry and government, we should be able to seal up the cracks that scammers are slipping through. 'The Alliance has also agreed to take coordinated action to update industry codes, strengthen consumer protections and educate Kiwis about how to protect themselves from scams. 'The Anti Scam Alliance represents a significant step forward and is the first in a series of actions that will strengthen New Zealand's scam defences. However, there is more work to do. 'The Government is also exploring other initiatives to support this work, including amending the Fair Trading Act so that government and industry can have the confidence to proactively share scam-related intelligence and collaborate on disruption initiatives without breaching competition or privacy laws. 'There is no silver bullet to address scams, but by working together across sectors to disrupt scams, we can significantly shift the dial.'
