What's at stake: The government has warned the banks to up their game on anti-scam measures, but one commentator believes a stick will be needed.
Background: As the banks work on a joint anti-scam centre, the Banking Ombudsman and others say urgent investment is required to prevent the erosion of confidence in the system.
Key players: ASB, ANZ, Westpac, BNZ, Kiwibank, Banking Ombudsman, Commerce Minister Andrew Bayly, Janine Starks.
“Archaic, five years behind Australia, 15 years behind the UK.”
That is how personal finance columnist and former fund manager Janine Starks sees the New Zealand banks’ current response to the pernicious and ever-growing problem of scams and fraud.
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What's at stake: The government has warned the banks to up their game on anti-scam measures, but one commentator believes a stick will be needed.
Background: As the banks work on a joint anti-scam centre, the Banking Ombudsman and others say urgent investment is required to prevent the erosion of confidence in the system.
Key players: ASB, ANZ, Westpac, BNZ, Kiwibank, Banking Ombudsman, Commerce Minister Andrew Bayly, Janine Starks.
