Scam protection at heart of Code of Banking Practice update

Consumers also have a role to play in scam protection. (Image: depositphotos)

Fri, 28 Nov 2025

A fistful of new banking scam protections and compensation measures will be introduced when the new Code of Banking Practice goes live on Nov 30, says the New Zealand Banking Association.“We have adopted a prevention-led approach to fighting scams because … that’s the best way to help protect consumers from scam losses,” said chief executive Roger Beaumont.This was based on global experience, he added. The NZ Banking Association (NZBA) has 17 members.“The new compensation approach recognises shared responsibilitie...

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