Demand Bank Protection Against Online Fraud

Customers urged to demand protection against online fraud from their bank

Bank workers are stepping up their call for all banks to declare they will fully cover any losses customers suffer as a result of online fraud. Their union, Finsec, is launching a webpage for bank customers to email bank CEO's directly about the issue.

The "CoverCustomers" campaign can be found at the website www.finsec.org.nz/CoverCustomers

"In August Westpac said it would cover losses due to online fraud. Yesterday the BNZ followed suit. It is time for the other banks to step up and promise protection to customers who fall victim to online fraud," said Finsec Campaigns Director Andrew Campbell.

"Customers can go to the CoverCustomers campaign website and send an email to the CEO of their bank requesting that their bank take responsibility for their online banking security," said Campbell

"The Code of Banking Practice puts virtually all the onus on the customer to maintain high levels of computer security. For the average customer it is a high threshold that allows the banks that have not relaxed their rules to avoid helping out their customers when they are defrauded," said Campbell.

ENDS

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