56417 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs

Written Question

Published date: 24 Sep 2024

Metadata

Document type:	Written Question
Parliament number:	54
Question number:	56417 (2024)
Question asked:	08 Sep 2024
Member asking:	Arena Williams
Portfolio:	Minister of Commerce and Consumer Affairs
Minister replying:	Hon Andrew Bayly
Answer received:	18 Sep 2024
Status:	Question Answered
Reply type:	Reply
Document ID:	WQ_56417_2024
Document guid:	d1e92582-350f-4292-8dab-c8efc93d6d93

56417 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs: What were the topics of the Minister's one hour meeting on 25 July with the CEO of the New Zealand Banking Association?

Hon Andrew Bayly: My meeting with the CEO of the NZBA primarily covered its work to address scams. Topics covered: - Confirmation of payee - The Code of Banking Practice - The banking anti-scam centre - NZBA’s engagement with the Australian Financial Crimes Exchange. We also discussed insights from my visit to Singapore to attend scam and fraud prevention meetings with a delegation led by the Australian Minister for Financial Services and the Australian Banking Association. Finally, we discussed penalties for incomplete disclosure in the Credit Contracts and Consumer Finance Act.