Tuesday, July 24, 2007

New Zealand: Consumer Advocates to Fight Banking Online Fraud Liability Code

Brett Winterford writes on ZDNet Australia:

Internet advocacy group InternetNZ and the NZ Consumers' Institute have both come out swinging over the New Zealand Bankers Association's (NZBA) decision to allow victims of Internet banking fraud to be potentially held liable for losses.

Representatives from both institutions have met with the NZBA to voice their concerns about the new Banking Code of Practice, which essentially makes Internet banking users liable for fraud-related losses.

More here.

Note: Background here and here.


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