Combatting online financial scams
This section provides information about the all-of-government approach taken to combat online financial scams.
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How online scams affect New Zealand
Online financial scams are causing significant harm to New Zealanders. Gross reported financial losses have been over $265 million a year.
The issue crosses a number of sectors, including banking, telecommunications, and digital platforms. The Government has established the Anti-Scam Alliance to coordinate efforts to combat scams.
More information on scams including the types of scams and how to avoid and report is available on the Consumer Protection website.
Scamwatch(external link) — Consumer Protection
Key developments
Anti-Scam Alliance 2026 work programme
In June 2026, the Anti-Scam Alliance published its work programme.
The work programme includes a summary of:
- The strategy for the Alliance
- What the Alliance has delivered for New Zealanders
- What is next for the Alliance in 2026
- The Alliance’s membership.
Read the Anti-Scam Alliance’s work programme:
Read the Government’s announcement:
More work revealed to keep Kiwis’ money safe(external link) — beehive.govt.nz
New statutory defence to enable proactive scam disruption
In November 2025, the Government announced it would introduce a statutory defence under the Fair Trading Amendment Bill for online service providers who take action to disrupt suspected scam activity.
The defence is only available if:
- the provider has reasonable grounds to believe that their service is being used to carry out a scam; and
- they take action to disrupt the suspected scam activity within 28 days of first having those grounds; and
- the action is taken in good faith and is reasonably proportionate to the activity; and
- the provider reverses the action promptly if they no longer have reasonable grounds to believe that the activity is a scam and reversal is reasonably practicable.
This will enable online service providers to disrupt suspected scam content quickly and confidently.
Read Hon Nicola Willis and Hon Cameron Brewer’s joint Ministerial announcement:
Tougher penalties for misleading pricing incoming(external link) — Beehive.govt.nz
Read the Bill:
Fair Trading Amendment Bill(external link) — New Zealand Parliament
Establishment of the New Zealand Anti-Scam Alliance
In July 2025, the Government announced a new initiative to combat online scams, with various industries voluntarily joining the Anti-scam Alliance in partnership with government. This alliance will lead the design and delivery of a national anti-scam work programme focused on disrupting scams, protecting individuals and communities and making New Zealand a harder target for scammers.
This alliance with industry has 4 key pillars that seek to:
- Improve collaboration across industry, government and with our overseas partners
- Oversee initiatives to disrupt scam activity at scale
- Raise consumer awareness and education
- Uplift industry codes of conduct relating to scams.
This alliance is grounded in a shared commitment to collaborate, align, and leverage off the work of industry to amplify the collective impact of our anti-scam efforts.
Read the Ministers’ announcement:
New Zealand launches Anti-Scam Alliance(external link) — Beehive.govt.nz
All of government approach to online financial scams
In October 2024, the Government agreed to an all-of-government approach to online financial scams. This has informed the Minister of Commerce and Consumer Affairs to lead engagement measures across government, with industry, and internationally.
Read the proactively released Cabinet Paper and associated Minute:
Open letter to the banking sector
In February 2024, the Minister of Commerce and Consumer affairs wrote to the banking sector urging it to introduce the three key recommendations from the Committee’s inquiry. Work has begun on these, with the banking sector progressing a Confirmation of Payee system and investigating a compensation scheme.
Read the Minister's full open letter:
Finance and Expenditure Committee inquiry
In 2022, the Finance and Expenditure Committee (FEC) launched an inquiry into scams. The Committee found that banks’ processes should be strengthened to better protect New Zealand consumers against scams.
In February 2024, the Government responded to the Committee’s inquiry, three of the key recommendations by the Committee included: Adopting a Confirmation of Payee system, urging the New Zealand Banking Association to update its Code of Banking Practice, and introducing a voluntary reimbursement scheme for authorised payment scams.
Read the Committee’s recommendations and the Government’s response:
Read the proactively released Cabinet Paper and associated Minute:
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Government Responses to inquiries by the Finance and Expenditure Committee into cryptocurrencies and banks’ processes and consumer protection for scams [PDF 374KB]
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Government Responses to inquiries by the Finance and Expenditure Committee into cryptocurrencies and banks’ processes and consumer protection for scams – Minute of Decision [PDF 356KB]