Latest / Early Edition with Ryan Bridge / Roger Beaumont: Banking Association CEO on the Anti-Scam Alliance

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Roger Beaumont: Banking Association CEO on the Anti-Scam Alliance · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: All right, finally some good news about scams. The government's
• 0:02
  Speaker 1: going to address the country's scamming issues head with an
• 0:07
  Speaker 1: anti scam alliance. So, with some reports suggesting the scams
• 0:11
  Speaker 1: costing kind of me up to two billion dollars annually,
• 0:14
  Speaker 1: people are saying it's well over due. The New Zealand
• 0:16
  Speaker 1: Banking Association chief executive is Roger Beaumont, who joins me.
• 0:19
  Speaker 1: Now what is he Roger?
• 0:21
  Speaker 2: Oh, good morning, Andrew, good to talk to you.
• 0:23
  Speaker 1: So what does this alliance actually do? What does it mean?
• 0:26
  Speaker 2: Well, what it means, excuse me, is a coordinated approach
• 0:30
  Speaker 2: across a number of industries and government agencies around tackling
• 0:35
  Speaker 2: scams because no one industry can actually deal with it
• 0:38
  Speaker 2: on their own. The banks have stepped up and done
• 0:40
  Speaker 2: a pretty good job of putting processes into place to
• 0:44
  Speaker 2: protect customers, but for it to truly be an effective ecosystem,
• 0:48
  Speaker 2: it needs everybody working together and that's what the SAME's
• 0:51
  Speaker 2: to do.
• 0:51
  Speaker 1: Should we have done that right from the go?
• 0:54
  Speaker 2: Oh, we've been calling for this for a couple of years, Andrew,
• 0:57
  Speaker 2: We've said that actually we can't do this on our own.
• 1:00
  Speaker 2: We need government leadership to actually bring all the individual
• 1:05
  Speaker 2: entities together to work in a coordinated way, so you
• 1:09
  Speaker 2: know it's good that it's happened.
• 1:11
  Speaker 1: So scams, are they becoming worse or are we getting
• 1:14
  Speaker 1: on top of them?
• 1:16
  Speaker 2: Well, I think just the awareness and education that's gone
• 1:19
  Speaker 2: on by some of the awful stories that you've seen
• 1:22
  Speaker 2: play out in the media have themselves been an incredible
• 1:25
  Speaker 2: educational device. We also have put some processes into place
• 1:31
  Speaker 2: that have I think made a different So at Easter
• 1:35
  Speaker 2: we finished rolling out a thing called confirmation a payee
• 1:38
  Speaker 2: and you've probably experienced this if you've paid someone new
• 1:42
  Speaker 2: or made a one off payment by your banking app
• 1:46
  Speaker 2: or your online banking and what that does, for example,
• 1:50
  Speaker 2: is it tries to match that the person you're paying
• 1:54
  Speaker 2: matches the account number that that money is going into,
• 1:57
  Speaker 2: and you'll get a message back, but that's either a
• 1:59
  Speaker 2: complet match or a partial match, or no match at all,
• 2:03
  Speaker 2: and it'll give you that comfort or assurance that it's
• 2:06
  Speaker 2: right or to go or if not, to go back
• 2:08
  Speaker 2: and check some of those details.
• 2:09
  Speaker 1: Yeah, I've had a few of those. It's a little
• 2:11
  Speaker 1: bit of a hassle, but at the same time, it's
• 2:12
  Speaker 1: a little bit of a hassle but it's even more
• 2:14
  Speaker 1: of a hassle to lose money, that's right.
• 2:16
  Speaker 2: I mean, you can't have it all. You've got a
• 2:19
  Speaker 2: If you want to have protections in place, there are
• 2:21
  Speaker 2: going to be there is that's going to put friction
• 2:24
  Speaker 2: in the payment system and process. But that friction, I
• 2:28
  Speaker 2: think is a very small price to pay for having
• 2:31
  Speaker 2: surety about who you're sending money to.
• 2:33
  Speaker 1: A right good luck. Now, the thing I learned last night,
• 2:35
  Speaker 1: I had no idea we had two hundred crypto ATMs
• 2:38
  Speaker 1: in this country that being outboored. Do you have an
• 2:41
  Speaker 1: opinion on this.
• 2:43
  Speaker 2: Well, it's interesting that a number of we're just following
• 2:45
  Speaker 2: a number of jurisdictions around the world that have banned
• 2:47
  Speaker 2: crypto ATMs. I think the UK did it first in
• 2:51
  Speaker 2: twenty twenty two from memory, and so that is a
• 2:55
  Speaker 2: global trend now for that to happen. And crypto is
• 3:00
  Speaker 2: a known tool for criminals to shift money around the globe,
• 3:04
  Speaker 2: and so I think anything that puts in place processes
• 3:08
  Speaker 2: that reduced the opportunities for scammers and crims to be
• 3:12
  Speaker 2: active is a good thing.
• 3:14
  Speaker 1: Would it be fair to say that the banking industry
• 3:16
  Speaker 1: hates crypto?
• 3:18
  Speaker 2: I wouldn't go. We're not haters, Andrew.
• 3:23
  Speaker 1: Roger, I got to go, I gotta go. Lovely to
• 3:25
  Speaker 1: talk to you Roger Beaumont, who is the New Zealand
• 3:28
  Speaker 1: Banking Association's Chief Executive.
• 3:30
  Speaker 2: For more from Early Edition with Ryan Bridge. Listen live
• 3:34
  Speaker 2: to news talks. It'd be from five am weekdays, or
• 3:37
  Speaker 2: follow the podcast on iHeartRadio.