'Confirmation of payee' anti-scam measure inches closer

(Image: NZME)

Tue, 30 Apr 2024

Banks are getting closer to implementing anti-scam “confirmation of payee” measures.New Zealand Banking Association (NZBA) chief executive Roger Beaumont said retail banks were “on track” to start rolling out the service by year's end, after recently confirming a preferred provider.Beaumont said NZ’s retail banks had completed a “competitive selection process” to find a provider for the service.“We won’t be able to announce the name of that provider until we’ve finalised the c...

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