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Immediate protection needed against online fraud

17 December 2007
For immediate release

Immediate protection needed for bank customers against online fraud

The bank workers union, Finsec, is calling on all banks to follow the BNZ’s lead and immediately provide protection to customers to cover any losses they incur as a result of online fraud.

“We call on all banks to follow the BNZ’s lead and immediately offer full protection to customer who fall victim to online fraud. It is the fair thing to do,” said Finsec Campaigns Director Andrew Campbell.

“All banks encourage customers to do a lot of their banking online. Bank workers have targets associated with signing people up to online banking. It is only fair that in return banks cover all losses customers may incur as a result of doing their banking over the internet,” said Campbell.

“The major banks all made hundreds of millions of dollars last year. They are in the best position to make sure that online banking is made as safe as possible and spend money to fix problems,” said Campbell.

“Many customers financially struggle and may not always have their anti-virus and other software up to date. It is unreasonable to pass the blame on to customers who may not have the technical knowledge currently required to avoid liability for online fraud that is out of their control,” said Campbell.


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