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What is the Minister's position, if any, on whether banks should be forced to reimburse victims of authorized payment scams?

Answered Question 16837 (2026)
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Asked by

Arena Williams

Member for Manurewa · Labour Party

Question

  • What is the Minister's position, if any, on whether banks should be forced to reimburse victims of authorized payment scams?

Answered by

Cameron Brewer

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

Answer

The banking sector updated its Code of Banking Practice in November 2025 that introduced conditional compensation for losses caused by authorised payment scams.