Banking Review

Cybercrime hype – it’s all relative

Nice piece in today’s Courier Mail on online banking fraud:
“Trust no one, to be safe”

I spoke to Paddy Hintz at length on the issue and was bracing myself for another beat up on cybercrime. In reality, it turned out to be a very balanced yarn.

I suppose comparatively speaking the moves by the NZ Bankers’ Association to push liability back on consumers makes our bankers look like a caring bunch.

There are some deeply held suspicions that the Australian banking industry is simply testing the NZ reaction before pushing for similar measures here.

Stories like this should serve to remind the industry that doing the right thing by consumers helps to build trust. This is the first mainstream press story I’ve seen that highlights the need for both consumers and banks to take measures to protect online banking security.