Combatting online financial scams
This section provides information about the all-of-government approach taken to combat online financial scams.
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How online scams affect New Zealand
Online financial scams are causing significant harm to New Zealanders. Reported financial losses have been over $200 million a year.
The issue crosses a number of sectors, including banking, telecommunications, and digital platforms. Work is underway to establish a coordinated approach to combatting scams.
More information on scams including the types of scams and how to avoid and report is available on the Consumer Protection website.
Scamwatch(external link) — Consumer Protection
Key developments
Safe harbour to enable proactive scam disruption
In October 2025, the Government agreed to introduce a safe harbour defence provision under the Fair Trading Act. This will enable online service providers to disrupt suspected scam content quickly and confidently.
This was part of a broader plan to amend the Fair Trading Act. A Bill giving effect to these changes will be introduced to Parliament in early 2026.
Read the announcement from the Minister:
New scam protections for consumers to kick off Fraud Awareness Week(external link) — Beehive.govt.nz
Update on the New Zealand Anti-Scam Alliance
Since its establishment in July 2025, the Anti-Scam Alliance has identified a set of initiatives that aim to:
- improve and develop codes of practice
- improve intelligence and data sharing
- increase visibility of education and awareness campaigns
- strengthen how we coordinate anti-scam activity.
Key members of the Alliance are developing the overall strategy and framework to prioritise initiatives and to enable the delivery of this work from 2026 onwards.
Industry engagement
In July 2025, the Government announced a new initiative to combat online scams, with various industries voluntarily joining the Anti-scam Alliance in partnership with government. This alliance will lead the design and delivery of a national anti-scam work programme focused on disrupting scams, protecting individuals and communities and making New Zealand a harder target for scammers.
This alliance with industry has 4 key pillars that seek to:
- Improve collaboration across industry, government and with our overseas partners
- Oversee initiatives to disrupt scam activity at scale
- Raise consumer awareness and education
- Uplift industry codes of conduct relating to scams.
This alliance is grounded in a shared commitment to collaborate, align, and leverage off the work of industry to amplify the collective impact of our anti-scam efforts.
Read the Ministers’ announcement:
New Zealand launches Anti-Scam Alliance(external link) — Beehive.govt.nz
All of government approach to online financial scams
In October 2024, the Government agreed to an all-of-government approach to online financial scams. This has informed the Minister of Commerce and Consumer Affairs to lead engagement measures across government, with industry, and internationally.
Read the proactively released Cabinet Paper and associated Minute:
Open letter to the banking sector
In February 2024, the Minister of Commerce and Consumer affairs wrote to the banking sector urging it to introduce the three key recommendations from the Committee’s inquiry. Work has begun on these, with the banking sector progressing a Confirmation of Payee system and investigating a compensation scheme.
Read the Minister's full open letter:
Finance and Expenditure Committee inquiry
In 2022, the Finance and Expenditure Committee (FEC) launched an inquiry into scams. The Committee found that banks’ processes should be strengthened to better protect New Zealand consumers against scams.
In February 2024, the Government responded to the Committee’s inquiry, three of the key recommendations by the Committee included: Adopting a Confirmation of Payee system, urging the New Zealand Banking Association to update its Code of Banking Practice, and introducing a voluntary reimbursement scheme for authorised payment scams.
Read the Committee’s recommendations and the Government’s response:
Read the proactively released Cabinet Paper and associated Minute:
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Government Responses to inquiries by the Finance and Expenditure Committee into cryptocurrencies and banks’ processes and consumer protection for scams [PDF 374KB]
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Government Responses to inquiries by the Finance and Expenditure Committee into cryptocurrencies and banks’ processes and consumer protection for scams – Minute of Decision [PDF 356KB]