Why aren’t greedy NZ Banks doing more to stop scammers

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I don’t understand this…

Govt to ramp up anti-scam efforts, bringing public sector and banking industry together

The government plans to bring together public sector agencies and banking industry players in an effort to ramp up New Zealand’s anti-scam efforts.

To mark the start of Fraud Awareness Week, it has been revealed New Zealanders have lost nearly $200m in the last year to scammers.

Commerce and Consumer Affairs Minister Andrew Bayly said the number was likely higher, as only around one in five scams are reported.

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“People who think they’ve been scammed, they feel ashamed. Actually, they shouldn’t. We need more people to own up and front up and say they have, because when that happens, agencies can take action and deal with it,” he said.

“When people don’t talk about it, that’s when other people get ripped off, if I can use that word, so it’s just being open about it and educating people.”

…Mungo no understand.

How can the Banks be making Billion dollar profits yet the best they can do to stop you getting scammed are bullshit education campaigns that move all the responsibility onto you the individual rather than demand the Banks have some accountability here.

The system is set up to protect the Banks – not you stupid sleepy Hobbits!

The Banking Ombudsman is capped at making payouts so that would be a good place to start because the more you can get back from the Bank, the more they will care about it being a problem in the first place.

The Spinoff makes the point that scams in NZ are mostly via Facebook and that Meta makes too much money from them to care.

The very 24/7 interconnectivity that the Banks wanted for never ending consumerism has opened us up to being preyed on by thieves.

With loneliness rife, people fall for scams all the time and the Banking Industry has simply facilitated that crime rather than prevent it.

If the Banks can make so much money, shouldn’t they be far more responsible for the people getting scammed?

 

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15 COMMENTS

  1. As a person who was nearly scammed I dont understand how the banks can be blamed .After all it was my laptop that was hacked not the banks .Maybe I should have had better security on that laptop ,which again is not the banks fault .
    In the end it was the lady at the bank that prevented the scammers from getting any of my money .Also she told me the bank would not have transfered the money because the account it was going to was in Hongkong .They would have contacted me directly and asked why I was sending all my money off shore .
    Just because some people are seduced by a so called romance or as in my case someone posing as a special police crime fighting unit why is that the fault of the bank ?

  2. Why arent us dumb hobbits looking after our own security instead of blaming someone else .We all moan about bank fees ,but like rates if we want better service you have to pay .So every scam that the bank has to refund because our personal security is shit ,ends up as part of those bank fees .The end result all customers are covering the cost of that scam .

    • gordon walker. It should be “ we dumb hobbits, not “ us dumb hobbits” and speak for yourself when you were the person with inadequate security. What’s more, “ romance” has little to do with most scams. Trust me. Or ask a bank. Any bank at all.

        • Gordon walker. Just kidding. I’m not really a Nigerian princess, nor related to the new police commissioner, don’t walk backwards into pubs, will never reverse down a steep street again, grow my own greens but don’t vote for them, will always be.a carnivore, and if dear G’Ma were alive I would not be telling her how to suck eggs.

    • @ gordon walker. I’d always suspected you were an idiot and, but like all idiots, you prove yourself to be one sooner or later.
      ” looking after our own security ” Like how? A crystal ball? Developing a relationship with a time traveler? Ask God? Yeah right.
      We AO/NZ’ers have four now foreign owned banks. ASB, BNZ, ANZ and Westpac who are in turn owned by australian banks and they’re ripping us off in broad daylight to the tune of $180.00 after tax a second. 24/7/365.
      The Press.
      Rob Stock
      October 19, 2023
      NZ banks ‘some of the most profitable in the world’
      https://www.thepress.co.nz/business/350094635/nz-banks-some-most-profitable-world
      I could write several books on the rapacious greed of banksters, particularly the australian owned banks but a more interesting book to read might be on who, exactly it is, that allows blatant criminal organisations like australian banking to be able to come here and take advantage of us like this. How did that happen? Who were the dirty Kiwi’s who inked the contracts? When was that? How much did they get paid to betray us like that?
      How’s that massive mortgage working out for you by the way? The massive mortgage you had to take out to buy that grossly overpriced plasti-mansion 1.5 meters away from your neighbours arse holes next door as they take their morning shit? How much? In a country where there are a scant few 5.2 million humans total. Where our AO/NZ is larger in land area that the UK by 29 thousand square kilometres. A country where 50 thousand farmers produce enough foods and wool etc to feed and clothe 40 million people. You can be excused for having no fucking idea what it is exactly that it is that’s going on as you trudge about on your high-fashion plastic floor boards.
      As I dig ever deeper into things I’m left aghast at how deep and entrenched the crime wave that’s AO/NZ is in our collective psyche. It’s truly deeply chilling and yet remarkable for its genius.
      Of how Bentley’s drive past people living in shop doorways and we think that’s ok. Sure, unpleasant at a shallow level but yet OK. Serves them right. Of how the insidious nature of the criminal elite have taken over our media and turned it into a banal disease I wouldn’t let anywhere near my arse hole to wipe.
      I think we’re so polluted by the machinations of an ancient evil lie that we can’t see past the veil of it. We, us Kiwis, are in deep shit. We’re extremely vulnerable and we urgently need help or we will lose our country.
      The reason why the seymour is grating Maori over the frying pan is to make sure Maori develop a hate for non – Maori and in so doing is dividing us at a basic human level. He’s creating a weak point which others will manipulate and exploit. That’s why our primary industry and Maori must unite. There’s no other option. Instead, what do we get? 50,000 people wandering about parliament buildings now wondering what next. That, is exactly the same thing as driving tractors slowly about in protest while achieving nothing.
      Albert Einstein said ” Doing the same thing while expecting a different result is the very definition of madness. ” Farmers and Maori should strike together. A 50,000 person hikoi rolling up to your parliament buildings is the same number of farmers who earn our economy. What does that tell you? And there was jerry brownlee looking down on you from your parliament buildings. What evil miasma are we entrapped within? But not me mates. ( At least I don’t think so…!? )

      • People in glass houses comes to mind .No massive mortgage here bro but being a dairy farmer no doubt you paid 10x more for the large life style block you call a farm .No business in the city performing as badly as dairy farms do would sell for more than a few grand if they sold at all .Farmers for years have farmed capital gains .

  3. I understand that you can’t recall or stop an electronic payment transaction as you used to be able to do with a cheque

    How much has this reduction in payment clearance times contributed to the explosion of fraud?
    .

  4. Thank you for this. As one who was innocently skimmed via an ATM outlet or eftpos, I approached a retired but influential financial journo about addressing this issue, to no avail. It’s also unclear how interested the banking ombudsman is either. I now keep cash under the mattress, do not use ATM’s, use very limited eftpos outlets, and make no online purchases.

    With the banks trying to push us into being a cashless society, it is imperative that they get their own houses into order first.

    This is something they are not very good at if they were so easily outsmarted by off-shore criminals attaching skimming devices to ATMS throughout New Zealand, and that’s the low level stuff, not the online predators wrecking customers’ finances and peace of mind.

    The rich banks can easily afford to write off scams as losses, but most persons cannot.

  5. ” Why aren’t greedy NZ Banks doing more to stop scammers ”
    The greedy NZ banks i.e. anz, bnz, asb, and westpac aren’t greedy NZ banks. They’re greedy Australian owned banks stealing $180.00 net a second 24/7/365 from us so it is in fact they who are the scammers.
    Just ask the 14 multi-billionaire and the 3118 multi-millionaire Kiwis ? They’ll know. Won’t ya boyz?

  6. In China you use wave your hand over a scanning machine to make purchases buying any products and they’ve shifted that to banking fucken unbelievable apparently it makes scamming impossible?

    • Wave your hand in Wellington and the bus driver puts his foot on the accelerator and drives past with a maniacal grin on his immigrant face.

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