NZ Bank policy for scam victims

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Forums › Finance and wealth management › NZ Bank policy for scam victims

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SepticSceptic

2188 posts

Uber Geek

Trusted

#2253207 6-Jun-2019 16:57

elpenguino:

Well, it appears the bank has been able to 'do something' and my old man's getting his money back.

Was it money returned or compensation - I don't know yet.

I don't know the details and i'm not sure how much detail I'll get from him about the actual attack vector.

Did your Dad get his money back ?

You can never have enough $$ for model railways :-)

elpenguino

3423 posts

Uber Geek

#2253211 6-Jun-2019 17:17

Yes he did, thought I mentioned that.

He would agree with you there!

Most of the posters in this thread are just like chimpanzees on MDMA, full of feelings of bonhomie, joy, and optimism. Fred99 8/4/21

surfisup1000

5288 posts

Uber Geek

#2253262 6-Jun-2019 19:35

I know someone (vulnerable person) who had their bank account siphoned by an small IT services company.

There were legitimate reasons to not contact police due to sensitivities.

It makes me wonder, how many people are too embarrassed to make a police complaint in the case of bank / financial fraud.

GSManiac

488 posts

Ultimate Geek

#2253873 7-Jun-2019 14:45

A little bit off topic but still relevant. I was thinking. We have to jump through so many hoops as customers to prove who we are to banks, telcos etc. but yet the reverse is not true.

I’d love to be able to set a secret key phrase associated to my account that I can ask the caller to say to me to prove that they are who they say they are.

Why is this not a thing.

geoffwnz

1590 posts

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#2253892 7-Jun-2019 15:24

GSManiac: A little bit off topic but still relevant. I was thinking. We have to jump through so many hoops as customers to prove who we are to banks, telcos etc. but yet the reverse is not true.

I’d love to be able to set a secret key phrase associated to my account that I can ask the caller to say to me to prove that they are who they say they are.

Why is this not a thing.

You could start by asking them to tell you the balance of an account (Bank account or latest bill/invoice). If they are legit, they should be able to do that.
But yes, I have wondered the same thing.
We get told not to give out our personal details to random callers but most legitimate bank or service provider calls seem to come from "Private Number" or some random 4 digit number that we can't verify.

MotorDrive Rallying

elpenguino

3423 posts

Uber Geek

#2253935 7-Jun-2019 15:30

GSManiac: A little bit off topic but still relevant. I was thinking. We have to jump through so many hoops as customers to prove who we are to banks, telcos etc. but yet the reverse is not true.

I’d love to be able to set a secret key phrase associated to my account that I can ask the caller to say to me to prove that they are who they say they are.

Why is this not a thing.

It's a good idea but I think would have challenge lies in implementation. Imagine you have given out 25 secret phrases and someone rings up 2 (or 6) years after you created it - many people will not write these things down or will re-use the phrase across providers.

So the 'bank' quotes some pass phrase . "Electric Phallic Unicorn" ? Yep. After 12 years, sounds about right.

Most of the posters in this thread are just like chimpanzees on MDMA, full of feelings of bonhomie, joy, and optimism. Fred99 8/4/21

richms

28175 posts

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Lifetime subscriber

#2253963 7-Jun-2019 16:37

geoffwnz:

GSManiac: A little bit off topic but still relevant. I was thinking. We have to jump through so many hoops as customers to prove who we are to banks, telcos etc. but yet the reverse is not true.

I’d love to be able to set a secret key phrase associated to my account that I can ask the caller to say to me to prove that they are who they say they are.

Why is this not a thing.

You could start by asking them to tell you the balance of an account (Bank account or latest bill/invoice). If they are legit, they should be able to do that.
But yes, I have wondered the same thing.
We get told not to give out our personal details to random callers but most legitimate bank or service provider calls seem to come from "Private Number" or some random 4 digit number that we can't verify.

You ask for their extension number and call them back on the number on the back of your card from the bank.

But as they call from "private number" I respect their privacy by rejecting their call to the busy signal that callers get when you reject their call. Eventually they will email and say that the phone number the have doesnt work and to call them and you have to explain that it works fine and its their fault.

Richard rich.ms

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