1 00:00:00,040 --> 00:00:02,360 Speaker 1: All right, finally some good news about scams. The government's 2 00:00:02,400 --> 00:00:07,120 Speaker 1: going to address the country's scamming issues head with an 3 00:00:07,320 --> 00:00:11,680 Speaker 1: anti scam alliance. So, with some reports suggesting the scams 4 00:00:11,720 --> 00:00:14,600 Speaker 1: costing kind of me up to two billion dollars annually, 5 00:00:14,800 --> 00:00:16,760 Speaker 1: people are saying it's well over due. The New Zealand 6 00:00:16,760 --> 00:00:19,799 Speaker 1: Banking Association chief executive is Roger Beaumont, who joins me. 7 00:00:19,840 --> 00:00:20,880 Speaker 1: Now what is he Roger? 8 00:00:21,640 --> 00:00:23,079 Speaker 2: Oh, good morning, Andrew, good to talk to you. 9 00:00:23,160 --> 00:00:25,040 Speaker 1: So what does this alliance actually do? What does it mean? 10 00:00:26,239 --> 00:00:30,040 Speaker 2: Well, what it means, excuse me, is a coordinated approach 11 00:00:30,720 --> 00:00:35,120 Speaker 2: across a number of industries and government agencies around tackling 12 00:00:35,159 --> 00:00:38,280 Speaker 2: scams because no one industry can actually deal with it 13 00:00:38,320 --> 00:00:40,800 Speaker 2: on their own. The banks have stepped up and done 14 00:00:40,800 --> 00:00:44,159 Speaker 2: a pretty good job of putting processes into place to 15 00:00:44,159 --> 00:00:48,320 Speaker 2: protect customers, but for it to truly be an effective ecosystem, 16 00:00:48,600 --> 00:00:51,160 Speaker 2: it needs everybody working together and that's what the SAME's 17 00:00:51,200 --> 00:00:51,440 Speaker 2: to do. 18 00:00:51,479 --> 00:00:52,800 Speaker 1: Should we have done that right from the go? 19 00:00:54,280 --> 00:00:56,640 Speaker 2: Oh, we've been calling for this for a couple of years, Andrew, 20 00:00:57,040 --> 00:00:59,480 Speaker 2: We've said that actually we can't do this on our own. 21 00:01:00,000 --> 00:01:04,400 Speaker 2: We need government leadership to actually bring all the individual 22 00:01:05,000 --> 00:01:09,240 Speaker 2: entities together to work in a coordinated way, so you 23 00:01:09,280 --> 00:01:10,959 Speaker 2: know it's good that it's happened. 24 00:01:11,520 --> 00:01:14,160 Speaker 1: So scams, are they becoming worse or are we getting 25 00:01:14,200 --> 00:01:15,720 Speaker 1: on top of them? 26 00:01:16,160 --> 00:01:19,400 Speaker 2: Well, I think just the awareness and education that's gone 27 00:01:19,440 --> 00:01:22,240 Speaker 2: on by some of the awful stories that you've seen 28 00:01:22,319 --> 00:01:25,800 Speaker 2: play out in the media have themselves been an incredible 29 00:01:25,959 --> 00:01:31,280 Speaker 2: educational device. We also have put some processes into place 30 00:01:31,319 --> 00:01:35,280 Speaker 2: that have I think made a different So at Easter 31 00:01:35,440 --> 00:01:38,600 Speaker 2: we finished rolling out a thing called confirmation a payee 32 00:01:38,640 --> 00:01:41,880 Speaker 2: and you've probably experienced this if you've paid someone new 33 00:01:42,160 --> 00:01:46,120 Speaker 2: or made a one off payment by your banking app 34 00:01:46,560 --> 00:01:50,000 Speaker 2: or your online banking and what that does, for example, 35 00:01:50,160 --> 00:01:54,080 Speaker 2: is it tries to match that the person you're paying 36 00:01:54,480 --> 00:01:57,000 Speaker 2: matches the account number that that money is going into, 37 00:01:57,040 --> 00:01:59,680 Speaker 2: and you'll get a message back, but that's either a 38 00:01:59,720 --> 00:02:03,120 Speaker 2: complet match or a partial match, or no match at all, 39 00:02:03,160 --> 00:02:06,000 Speaker 2: and it'll give you that comfort or assurance that it's 40 00:02:06,120 --> 00:02:08,480 Speaker 2: right or to go or if not, to go back 41 00:02:08,520 --> 00:02:09,640 Speaker 2: and check some of those details. 42 00:02:09,680 --> 00:02:11,040 Speaker 1: Yeah, I've had a few of those. It's a little 43 00:02:11,080 --> 00:02:12,960 Speaker 1: bit of a hassle, but at the same time, it's 44 00:02:12,960 --> 00:02:14,480 Speaker 1: a little bit of a hassle but it's even more 45 00:02:14,520 --> 00:02:16,919 Speaker 1: of a hassle to lose money, that's right. 46 00:02:16,960 --> 00:02:18,760 Speaker 2: I mean, you can't have it all. You've got a 47 00:02:19,000 --> 00:02:21,120 Speaker 2: If you want to have protections in place, there are 48 00:02:21,200 --> 00:02:24,200 Speaker 2: going to be there is that's going to put friction 49 00:02:24,720 --> 00:02:28,360 Speaker 2: in the payment system and process. But that friction, I 50 00:02:28,360 --> 00:02:31,520 Speaker 2: think is a very small price to pay for having 51 00:02:31,560 --> 00:02:33,200 Speaker 2: surety about who you're sending money to. 52 00:02:33,360 --> 00:02:35,240 Speaker 1: A right good luck. Now, the thing I learned last night, 53 00:02:35,480 --> 00:02:38,359 Speaker 1: I had no idea we had two hundred crypto ATMs 54 00:02:38,360 --> 00:02:41,040 Speaker 1: in this country that being outboored. Do you have an 55 00:02:41,080 --> 00:02:41,760 Speaker 1: opinion on this. 56 00:02:43,000 --> 00:02:45,120 Speaker 2: Well, it's interesting that a number of we're just following 57 00:02:45,120 --> 00:02:47,840 Speaker 2: a number of jurisdictions around the world that have banned 58 00:02:47,919 --> 00:02:51,640 Speaker 2: crypto ATMs. I think the UK did it first in 59 00:02:51,760 --> 00:02:55,760 Speaker 2: twenty twenty two from memory, and so that is a 60 00:02:55,800 --> 00:03:00,200 Speaker 2: global trend now for that to happen. And crypto is 61 00:03:00,240 --> 00:03:04,480 Speaker 2: a known tool for criminals to shift money around the globe, 62 00:03:04,520 --> 00:03:08,200 Speaker 2: and so I think anything that puts in place processes 63 00:03:08,480 --> 00:03:12,680 Speaker 2: that reduced the opportunities for scammers and crims to be 64 00:03:12,800 --> 00:03:13,720 Speaker 2: active is a good thing. 65 00:03:14,240 --> 00:03:16,080 Speaker 1: Would it be fair to say that the banking industry 66 00:03:16,080 --> 00:03:16,720 Speaker 1: hates crypto? 67 00:03:18,200 --> 00:03:20,800 Speaker 2: I wouldn't go. We're not haters, Andrew. 68 00:03:23,639 --> 00:03:25,560 Speaker 1: Roger, I got to go, I gotta go. Lovely to 69 00:03:25,560 --> 00:03:28,440 Speaker 1: talk to you Roger Beaumont, who is the New Zealand 70 00:03:28,440 --> 00:03:30,040 Speaker 1: Banking Association's Chief Executive. 71 00:03:30,960 --> 00:03:33,920 Speaker 2: For more from Early Edition with Ryan Bridge. 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