New tool locks scammers out
BNZ has launched a new security feature aimed at combating online scams, allowing customers to lock their online banking access if they suspect suspicious activity.
The online banking lock feature gives customers control to instantly disable all online and mobile banking access, providing an additional layer of protection.
BNZ’s head of financial crime, Ashley Kai Fong (pictured above), said that the new tool is a proactive measure for customers while they reach out to the bank for help.
“This tool, available in the BNZ app, lets customers lock their online banking while they’re calling us, potentially speeding up the process and shutting scammers out,” Kai Fong said.
How the online banking lock works
Once activated, the lock halts all internet banking and BNZ app activity, effectively freezing access for both the customer and potential scammers.
To regain access, customers must verify their identity in person at a BNZ branch.
However, essential banking activities like scheduled payments and card transactions will remain active during the lock, unless the customer also chooses to block their card.
Enhanced fraud prevention and customer safety
Kai Fong said that BNZ has been investing tens of millions of dollars annually in its anti-fraud measures.
The new lock feature is just one tool in a broader strategy to protect customers from scams. BNZ has also introduced other measures, including:
- Identity verification through the BNZ app during calls with bank staff.
- Additional two-factor authentication for high-risk actions like adding new payees or changing contact information.
- ID readers in branches to detect fraudulent documents.
“While there is no single solution to stop scammers, this tool adds another layer of protection to help safeguard our customers," Kai Fong said.
Customer responsibility in scam prevention
BNZ is also urging customers to take steps to protect their own information, such as safeguarding account details and being cautious of suspicious emails or links.
Kai Fong stressed the importance of vigilance, advising customers to keep security software updated and to contact the bank immediately if they suspect they’ve been scammed.
Key tips to stay scam-savvy
BNZ reminds customers of critical practices to avoid falling victim to scams:
- BNZ will never send links in texts or emails asking for login details.
- They won’t ask for PINs, account numbers, or passwords.
- Customers should be cautious of requests to download software or transfer money to “help catch a scammer.”
By using these tools and remaining vigilant, BNZ, which also advocates for open banking education, aims to provide customers with robust defense against scammers while maintaining secure banking experiences.
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