“Online financial scams cause significant harm to New Zealanders – reported losses have been nearly $200 million a year, but some estimate this to be as high as $2 billion,” Simpson said.
“Often scams affect the more vulnerable people in our community and our loved ones. We are taking action to change this. I intend to make announcements in due course on further work we intend to do to reduce scams across New Zealand.”
Brooke van Velden, Minister of Internal Affairs, said the department’s work is making an impact in reducing scams and holding perpetrators accountable.
“Scams cause serious financial and emotional harm, often preying on vulnerable people in our communities,” she said.
“The prevalence of scams also hurts the wider economy, as people become less comfortable with transacting online. Building back people’s trust by reducing scams is part of rebuilding the economy and reducing the cost of living.”