The banking industry has promised to crack down on scams.
The retail banks have announced plans for an anti-scam centre, an account name-checking service and some other initiatives, but can't provide any details of how long it'll take to implement them.
Earlier this week there were calls for the Ombudsman to investigate whether banks are failing to do everything they should to prevent scams.
Banking Association chief executive, Roger Beaumont spoke to Heather du Plessis-Allan about it.
LISTEN ABOVE

Enda Brady: UK correspondent on the additional calls for Sir Keir Starmer to resign
04:23

Paul Bloxham: HSBC Chief Economist ahead of Australia's 2026 federal budget
04:17

Jamie Mackay: The Country host on what the latest Rabobank agribusiness monthly report means for Kiwi farmers
04:46