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Does the Minister support Consumer New Zealand that banks should refund scam victims for authorised and unauthorised scam payments unless the victim has been grossly negligent?

Answered Question 12939 (2026)
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Asked by

Arena Williams

Member for Manurewa · Labour Party

Question

  • Does the Minister support Consumer New Zealand that banks should refund scam victims for authorised and unauthorised scam payments unless the victim has been grossly negligent?

Answered by

Cameron Brewer

Member for Upper Harbour · National Party · Minister of Commerce and Consumer Affairs

Answer

The industry Code of Banking Practice sets out compensation for loss from an unauthorised payment if the client was not dishonest or negligent; took reasonable steps to protect their banking; and cooperates and respond quickly to reasonable requests for information about what happened. I am comfortable with the current standard.