71504 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs

71504 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs: Further to WPQ 37399, has the banking sector addressed the question of whether a voluntary reimbursement scheme for victims of authorized payment scams will be applied retroactively?

Hon Andrew Bayly: As covered in my response to WPQ 37399, the banking sector provided me a report on international models for reimbursement schemes in September, along with a draft proposal. In line with scam reimbursement or compensation schemes in other countries, I would expect a New Zealand scheme to apply prospectively. I am currently engaging with the sector to discuss next steps.