Category: Scam Savvy

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A quarter of older NZers fear going online due to scam concerns

Source: BNZ statements

One in four older New Zealanders are hesitant to go online due to fears of being scammed, BNZ research reveals.

Up from 13% three years ago, the growing hesitancy among over-65’s raises concerns about digital exclusion in an increasingly online world.

Released for Fraud Awareness Week, the research shows a stark generational divide in digital confidence, with only 10% of under-35s expressing hesitancy about going online due to scams. However, the findings show age doesn’t increase someone’s risk of becoming a scam victim, suggesting fear among older people may be creating an unnecessary barrier to digital participation.

BNZ Head of Financial Crime, Ashley Kai Fong, says this creates significant challenges as we increasingly manage our lives online.

“When older New Zealanders avoid going online out of fear, they miss out on everything from banking convenience to video calls with family. As our world becomes increasingly digital, we need to ensure everyone can participate with confidence,” says Kai Fong.

More positively, the research found strong engagement with education efforts, with 96% of respondents aged over 65 seeing scam prevention material recently.

“While it’s encouraging that older New Zealanders are engaging with scam education, we need to ensure this builds confidence rather than creates fear,” says Kai Fong.

“The goal isn’t to avoid technology – it’s to use it confidently and safely. This is particularly important as more essential services, from banking to government support, become digital-first.”

To help customers stay safer online, BNZ provides scam education resources through its Scam Savvy programme. Offering practical tips and updates on emerging scam trends, the programme equips customers with the knowledge and confidence to navigate the digital world safely.

This is in addition to other measures, including:

  • Tools such as its new online banking lock feature in the BNZ app, which gives customers the ability to disable all online banking activity and lock access to their online banking if they suspect a scammer has gained access to their accounts.
  • Enhanced verification processes for high-risk banking actions
  • Two-factor authentication for greater security
  • In-app identity verification when speaking with BNZ staff

“Digital inclusion is about more than just having internet access – it’s about having the confidence to use it safely. At BNZ, we’re doing our part to better educate New Zealanders about the risk of scams, what to look out for and how to keep yourself safer online,” says Kai Fong.

Keeping account details, passwords and pin numbers safe

  • never click on links or attachments sent by someone you don’t know or that seem out of character for someone you do know
  • keep your computer and phone security software up to date
  • contact your bank immediately if you think you’ve been scammed

Top tips to get scam savvy – BNZ will never:

  • email or text you links to online banking and ask you to log in
  • send you a text message with a link to a website, or link to call us
  • ask you for information about your PIN number, bank account number, or password
  • ask you to verbally share the authentication codes sent to you by text or email, even with a BNZ staff member
  • ask you to transfer money to help catch a scammer or a bank employee who is scamming customers send you a text message about account issues with a link to log in
  • ask you to download software to access your Internet Banking remotely
  • use international phone numbers to call or send you notifications.

The post A quarter of older NZers fear going online due to scam concerns appeared first on BNZ Debrief.

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Scammers undeterred: 9 in 10 NZers targeted, but reporting surges

Source: BNZ statements

New research from BNZ highlights the unrelenting onslaught of criminal scammers facing New Zealanders, with nearly nine in ten Kiwis reporting they’ve been targeted by scammers in the past year. 

BNZ’s annual Scam Savvy survey found that 87% of New Zealanders were targeted by scams in the past 12 months, virtually unchanged from 2023 (88%).  

However, in a positive shift, New Zealanders are fighting back: despite persistent attacks, the proportion of people reporting scams to organisations like banks, police, and Netsafe, has jumped to 70%, up from 62% in 2023 and a mere 46% in 2022. 

BNZ Head of Financial Crime, Ashley Kai Fong, says, “While it’s concerning that scammers continue to target Kiwis at such a high rate, we’re pleased to see a significant increase in scam reporting.  

“This shift suggests that our efforts to raise awareness and encourage action are paying off. However, it’s crucial to remember that if you suspect you’ve been scammed, you should always call your bank immediately. Quick action can often help prevent or limit financial losses.” 

Key findings from BNZ’s 2024 Scam Savvy survey include: 

  • Government impersonation scams have increased, with 52% of respondents targeted by this type of scam in the last 12 months, up from 45% in 2023 
  • Email remains the most common scam channel, with 34% of scam victims targeted this way. 
  • Website-based scams have more than doubled, with 22% of scam victims being contacted this way, up from 9% in 2023 
  • Social media remains a significant channel for scammers, with 22% of respondents encountering scams on these platforms 
  • 1 in 8 respondents fell victim to a scam in the last 12 months, with 7% losing money 

“The tactics used by scammers are constantly evolving, so the increase in reporting is a crucial step in our collective fight against fraud – every report makes it harder for scammers to operate. We’re seeing a real shift in attitudes, with more people recognising the importance of speaking up,” Kai Fong says. 

In response to the evolving scam landscape, BNZ recently launched another anti-scam tool. The ‘online banking lock’ feature gives customers the ability to disable all online banking activity and lock access to their online banking if they suspect a scammer has gained access to their accounts. 

“This new tool – available in the BNZ app – gives customers the ability to lock their online banking while they’re contacting us, potentially speeding up the process to lock their accounts and shut scammers out,” says Kai Fong. 

The online banking lock is just one of a number of new features BNZ has introduced, including: 

  • Introducing a way for customers to verify their identity through the BNZ app when prompted by a BNZ staff member to confirm it is the bank calling. 
  • Introducing additional two-factor authentication (2FA) within internet banking for high-risk actions such as changing personal contact details, creating a new payee, editing an existing payee, or making payments to unsaved payees. This is required regardless of whether a customer has already completed 2FA in their current session. 
  • Deploying ID readers in branch to help identify fraudulent documents. 

“While we’re making progress and introducing new protective measures, our research underscores the need for continued vigilance and education. We urge all New Zealanders to stay informed about the latest scam tactics and to report any suspicious activity immediately.  

“Remember, reporting a scam isn’t just about your own protection—it could prevent someone else from becoming a victim too,” says Kai Fong. 

Keeping account details, passwords and pin numbers safe 

  • never click on links or attachments sent by someone you don’t know or that seem out of character for someone you do know 
  • keep your computer and phone security software up to date 
  • contact your bank as soon as possible if you think you’ve been scammed 

Top tips to get scam savvy – BNZ will never: 

  • email or text you links to online banking and ask you to log in 
  • send you a text message with a link to a website, or link to call us 
  • ask you for information about your PIN number, bank account number, or password 
  • ask you to verbally share the authentication codes sent to you by text or email, even with a BNZ staff member 
  • ask you to transfer money to help catch a scammer or a bank employee who is scamming customers send you a text message about account issues with a link to log in 
  • ask you to download software to access your Internet Banking remotely 
  • use international phone numbers to call or send you notifications.

The BNZ Scam Savvy research was commissioned by BNZ using the Insights HQ my2cents online research panel. Responses were collected between July 30 and August 16, 2024, with a sample size of 1,263 New Zealanders. The sample was weighted to be nationally representative on region, age and gender.

The post Scammers undeterred: 9 in 10 NZers targeted, but reporting surges appeared first on BNZ Debrief.

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BNZ launches new anti-scam tool to lock scammers out of online banking

Source: BNZ statements

BNZ is rolling out its latest anti-scam and fraud measure, launching an ‘online banking lock’ feature which gives customers the ability to disable all online banking activity and lock access to their online banking if they suspect a scammer has gained access to their accounts.

“BNZ is continually looking for new ways to enhance protection for customers and combat criminal scammers,” says BNZ’s Head of Financial Crime Ashley Kai Fong.

“While anyone who thinks they’re being scammed should call their bank straight away, this new tool – available in the BNZ app – gives customers the ability to lock their online banking while they’re making the call, potentially speeding up the process to lock their accounts and shut scammers out,” says Kai Fong.

Once the online account lock is activated, it disables all current internet banking and BNZ mobile account activity and locks all access.

To prevent scammers from regaining access, customers will need to verify their identity at a BNZ branch to regain access to their accounts.

Customers will still be able to use their cards online, instore and at ATMs while their account is locked, unless they have also chosen to block their card. To minimise disruption, scheduled payments, like rent or mortgage payments, will still go out as scheduled.

Kai Fong says BNZ invests tens of millions of dollars every year in scam and fraud protection measures.

“While there is no silver bullet in the fight against scammers, this is another tool in the anti-scam and fraud toolbox to help protect our customers. It’s just one of a number of new features, BNZ has introduced, including:

  • introducing a way for customers to verify their identity through the BNZ app when prompted by a BNZ staff member to confirm it is the bank calling
  • introducing additional two-factor authentication (2FA) within internet banking for high-risk actions such as changing personal contact details, creating a new payee, editing an existing payee, or making payments to unsaved payees. This is required regardless of whether a customer has already completed 2FA in their current session.
  • deploying ID readers in branch to help identify fraudulent documents

Kai Fong says customers also have a role to play in keeping themselves safe from scams and fraud:

  • keeping account details, passwords and pin numbers safe
  • never clicking on links or attachments sent by someone you don’t know or that seem out of character for someone you do know
  • keeping your computer and phone security software up to date
  • contacting your bank as soon as possible if you think you’ve been scammed

Top tips to stay scam savvy – BNZ will never:

  • email or text you links to online banking and ask you to log in
  • send you a text message with a link to a website, or link to call us
  • ask you for information about your PIN number, bank account number, or password
  • ask you to verbally share the authentication codes sent to you by text or email, even with a BNZ staff member
  • ask you to transfer money to help catch a scammer or a bank employee who is scamming customers
  • send you a text message about account issues with a link to log in
  • ask you to download software to access your Internet Banking remotely
  • use international phone numbers to call or send you notifications.

The post BNZ launches new anti-scam tool to lock scammers out of online banking appeared first on BNZ Debrief.

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From red roses to red flags – BNZ warns of increase in relationship scams ahead of Valentine’s Day

Source: BNZ statements

On Valentine’s Day eve, BNZ is warning Kiwis to be wary of scammers with its customers reporting a 43% increase in relationship and romance scams over the past year.

“There were 167 reported cases in 2023 – and they’re only the ones that we know about as many of these sorts of scams go unreported,” says BNZ’s Head of Financial Crime Ashley Kai Fong.

This is up from 117 reported cases in 2022.

“This shows that despite the headline grabbing nature of these types of scams, relationship scams are still very fertile ground criminals are using to exploit vulnerable Kiwis,” says Kai Fong.

Relationship scams are a type of fraud where criminals pretend to be interested in a relationship with another person, sometimes for romance and occasionally simply for companionship, most commonly online, and then victims are conned out of their money or tricked into sharing personal details.

“All scams can be devastating for victims, but relationship scams are particularly heinous given the time criminals invest in building the relationship with their victims. It can be months before the scammer hints or asks directly for money. They steal your heart, then they steal your money,” says Kai Fong.

In a recent romance scam case, Barry (details have been changed) came to a BNZ branch wanting help to make an international payment to Italy. Barry revealed that the funds were going to his girlfriend’s friend for an airline ticket to New Zealand. They had been dating online for almost a year and he recently started sending his “girlfriend” money. The girlfriend had asked for the money to be sent to her “friend’s account” as her friend had the credit card to purchase the airline ticket.

“There is so much social engineering involved in romance scam cases, and victims often don’t believe that they are caught up in a scam. That is what has happened in this case. Barry refused to believe this was a scam and despite being warned of the risks, he sent the money,” says Kai Fong.

In another case, romance scam victim Sally (details have been changed) believed she was sending money to her US Army surgeon boyfriend stationed in Syria. But Sally’s “boyfriend” said he couldn’t access his bank account due to a poor internet connection and needed the money urgently to fly to NZ. This customer had already sent considerable funds to her “boyfriend” from a number of banks, despite being warned of the risks. The funds for the latest transaction were the proceeds of a personal loan from a finance company.

“As in this case, criminals can go to great lengths to provide evidence to support their fake personas,” says Kai Fong.

“They set up bogus social media profiles, and often share doctored documents such as boarding passes or letters from fake employers. While relationship scams primarily involve romantic relationships, criminals can also exploit friendships built up online too.

“So, while we’ve got an eye out for red roses this Valentine’s Day, and I know it’s not very romantic, my plea is that New Zealanders keep an eye out for the red flags of romance scams this year too.”

How to recognise a romance scam: 

  • Strong emotions are expressed within a short timeframe.
  • The scammer gives you excuses as to why they cannot meet in person or video call.
  • They’ve asked you to keep the relationship a secret.
  • You’re asked to provide financial assistance.
  • You’re asked to receive money on their behalf and forward it to them.

Top tips to protect yourself from romance scams: 

  • Never send money or give personal or financial information to someone you have just met or have not met in person.
  • Do not trust someone who claims to be in love with you after a short time without meeting you.
  • Do not trust someone who asks you to communicate only through email, phone, or chat apps and avoids video calls or social media.
  • Do not trust someone who has a lot of excuses for not meeting you in person or who cancels plans at the last minute.
  • The internet is your friend – use reverse image search to check if their photos are stolen from someone else. Search for their name, email, phone number, or other details on the internet and see if they match what they have told you.
  • A great relationship isn’t a secret! Talk to your friends and family about your new relationship. They may be able to spot the signs of a scam that you may have missed.
  • Report any suspicious or fraudulent activity to the online platform where you met the person.  If you’ve sent any funds, contact your bank immediately.

The post From red roses to red flags – BNZ warns of increase in relationship scams ahead of Valentine’s Day appeared first on BNZ Debrief.

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Nine out of ten targeted by scams, but New Zealanders getting more scam savvy

Source: BNZ statements

New research from Bank of New Zealand (BNZ) shows a significant jump in scam activity over the past 12 months, with nine out of ten New Zealanders targeted by a scam, up 13 percent on the same time last year.

But while the volume of scams has surged, New Zealanders are getting more scam savvy, with only one in ten falling victim.

The research comes as BNZ launches its annual Scam Savvy Week to raise awareness, help people know how to identify scams, and be safer online.

BNZ’s Head of Financial Crime, Ashley Kai Fong, says, “While it’s fantastic that New Zealanders are learning to spot the red flags, the sheer volume of scams is a stark reminder for all of us to remain vigilant.

“All scams require people to do something – whether that’s clicking on a link, engaging in a conversation, or sending money. Ultimately the best defence against scams is you. If you can recognise the signs of a scam, you’re less likely to fall victim. That’s why BNZ has developed tools and resources to help New Zealanders get scam savvy at www.getscamsavvy.co.nz.”

Businesses getting “con-conscious”  

Businesses have also improved their ability to identify and avoid scams, with the number of small and medium enterprises (SMEs) falling victim to scams dropping from 47 percent in 2022 to 34 percent in 2023.

“Scams are a significant threat to our business community, but these figures show that SMEs are taking the right steps to protect themselves,” says Kai Fong.

Despite the reduction, businesses are not being complacent. Reporting of scams to banks has seen a marked increase, with 60 percent of businesses scammed in 2023 reporting the incident, compared to 39 percent in the previous year.

“This underscores the growing awareness among businesses of the importance of swift reporting and robust prevention measures. It’s a clear indication that the business community is recognising the threat posed by scammers,” says Kai Fong.

More people reporting scams, but further progress needed

Reporting by individuals also increased with 64 percent of individuals impacted by a scam reporting it, up from 46 percent last year.

“Reporting scams is a crucial step in fighting fraud,” says Kai Fong. “It provides valuable data to help us understand and combat these threats more effectively, making it harder for scammers to operate.

“It’s great that Kiwis are increasingly reporting scams, but there is still a lot of room for improvement. Too many of us don’t report scams, or even tell loved ones, due to embarrassment or shame, but we need to remember that this is a scammer’s fulltime job.

“Every minute of every day, they are out there thinking of new ways to take people’s hard-earned money. There is nothing to be embarrassed about if you do experience a scam, and by reporting it, you could be helping someone avoid being scammed in the future.”

Top three scams 

Government impersonation scams were the most prevalent over the last 12 months (45%), followed by bank impersonation scams (31%), and fake lottery, prize or grant scams (24%).

Email was found to be the most common channel for scams (40%), followed by text (34%), and social media (28%).

“Scammers are becoming increasingly sophisticated, impersonating trusted brands and institutions and exploiting a range of channels to deceive New Zealanders,” says Kai Fong.

Despite the rise in scams, the research shows that educating New Zealanders to spot and avoid scams is helping to keep them safe.

“Around two-thirds of those surveyed reported having seen educational material about scam prevention,” he says. “Knowledge is power. We want as many people as possible to get Scam Savvy as the more we know about scams, the better equipped we are to spot and avoid them.”

Our Scam Savvy tools are available online at www.getscamsavvy.co.nz.

Top tips to get Scam Savvy

  • Don’t click on links or open attachments sent by someone you don’t know or seem out of character for someone you do know. Hover over links to reveal the actual site.
  • If it doesn’t seem right, call the sender using contact details you already have or that are available on their public website.
  • Urgency is a red flag – scammers will try to rush you.
  • Banks will never ask for your bank account details, password or pin number, nor will they send you an email or text message with a link asking you to log in.
  • Keep your computer and phone security software up to date.
  • If you think you’ve been scammed, contact your bank as soon as possible.
  • Trust your gut – if it feels wrong, it probably is.

Scam Savvy Research

Other key findings from BNZ’s research:

  • One in ten New Zealanders have fallen victim to a scam in the last 12 months, losing money, personal information, bank or card details, or device access
  • Of those that lost money, two thirds (69%) lost under $500, 26 percent between $500 and $5,000, and five percent over $5,000
  • Email is the most common way to have fallen victim to a scam (40%), followed by text (34%), social media (28%), phone calls (18%), online websites (9%) or by someone you know (3%)
    • Those aged 15 – 34 years are more likely to have been targeted via social media (44%)
    • Social media and online website scams are harder for victims to recover stolen money, with 56 percent of victims who were targted via social media and 22 percent of victims targeted via an online website saying they couldn’t recover their money
  • Those over the age of 50 are more likely to be targeted by tech scam calls
  • One in ten males has responded to a dating or romance scam in the last 12 months, significantly higher than females
  • Females are more likely to be more concerned about their personal data online

Business stats

  • 45 percent of SMEs reported being the target of scam attempts in the last year
  • Of those targeted, one third have responded to a scam attempt, by clicking on a link (15%), or replying to the scam via email, text, or phone call (14%)
  • Almost half (47%) of scam attempts are by email, with another 38% by text message. One third (33%) are by phone calling, with websites (19%) and social media (18%) rounding out the top 5
  • One in five (22%) of SMEs reported falling victim to a scam in the last 12 months
  • 43 percent of businesses that fell for a scam reported a financial loss. Of those, more than half lost less than $500, 38 percent between $501 and $5,000, and 11 percent lost more than $5,000. It is important to note that losses to scams are not just financial, and can include data loss, operational impacts, technical damage and/or reputational damage

The post Nine out of ten targeted by scams, but New Zealanders getting more scam savvy appeared first on BNZ Debrief.