80860 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs

Written Question

Published date: 24 Dec 2024

Metadata

Document type:	Written Question
Parliament number:	54
Question number:	80860 (2024)
Question asked:	12 Dec 2024
Member asking:	Arena Williams
Portfolio:	Minister of Commerce and Consumer Affairs
Minister replying:	Hon Andrew Bayly
Answer received:	18 Dec 2024
Status:	Question Answered
Reply type:	Reply
Document ID:	WQ_80860_2024
Document guid:	dcc54d07-f16b-4a58-ae38-8284085f337b

80860 (2024). Arena Williams to the Minister of Commerce and Consumer Affairs: What was the average loss, if any, to New Zealand consumers in online bank scams for the year ending 30 November 2024, compared to the year ending 30 November 2023?

Hon Andrew Bayly: During Fraud Awareness Week, MBIE released data collated from 11 financial institutions that stated that in the year to October 2024, New Zealanders reported losing nearly $200M to scams. This is similar to the previous year’s figure. In addition, Netsafe recently released a survey of 1,071 respondents which estimated that scam losses for the New Zealand population could be around $2.3 billion NZ dollars in 2024. Netsafe’s survey also estimates that the average scam loss in 2024 to be $3,104 NZ dollars. Netsafe’s 2023 scams report of 1000 respondents estimated that scam losses for the New Zealand population could be around $2.05 billion NZ dollars. The survey also estimated the average scam loss in 2023 to be $3,165 NZ dollars.