37400 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs

37400 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs: When the Minister wrote to banks in February 2024 did he recommend a timeline, if any, for banks to establish a voluntary reimbursement scheme for victims of authorized payment scams, and if so, what was the timeline?

Hon Andrew Bayly: In my open letter to the banking sector published on 29 February 2024, I recommended they investigate a voluntary reimbursement scheme and requested them to provide me with an update by the end of September. You can read my open letter here: https://www.mbie.govt.nz/dmsdocument/28096-strengthening-bank-processes-and-consumer-protections-against-scams-open-letter-to-the-new-zealand-banking-industry-pdf