There’s been a breakthrough in the rules governing whether people who've been scammed are eligible for compensation. 

The banking sector has launched a review around victim reimbursement.

This comes after consumer protection criticism and the threat of regulatory intervention from the government.

Consumer NZ boss Jon Duffy told Mike Hosking that although there's a level of personal responsibility, people need to stay alert.

He says some of the scams are extremely sophisticated and those who are falling for them are everyday New Zealanders.

LISTEN ABOVE

There’s been a breakthrough in the rules governing whether people who've been scammed are eligible for compensation.  
The banking sector has launched a review around victim reimbursement. 
This comes after consumer protection criticism and the threat of regulatory intervention from the government. 
Consumer NZ boss Jon Duffy told Mike Hosking that although there's a level of personal responsibility, people need to stay alert. 
He says some of the scams are extremely sophisticated and those who are falling for them are everyday New Zealanders. 
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.