New Zealand: Online Banking Fraud Liability Issues Still Up In The Air ?

["Paul Ferguson" <fergdawg () netzero net>]

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It appears that this issue is still looming large.

Via Stuff.co.nz.

[snip]

Banker's Association chief executive Alan Yates remains confident that
banks will reach a consensus on the terms of a controversial code of
practice for the industry that will cover Internet banking, after four
months of silence from them on the progress of negotiations.

The association announced in August that banks were considering "clarifying
the code", which was issued in June, and had taken media criticism of it on
board.

It would then consult with NZ InfoTech and Computerworld, InternetNZ and
the Consumers' Institute, which proposed a range of revisions.

The code of practice, issued in June, asserts the right of banks to pass
liability for fraud losses on to customers, potentially emptying their
accounts, if customers access Internet banking on computers that are not
fully protected with up- to-date security software.

[snip]

More:
http://www.stuff.co.nz/4327281a28.html

Background:
http://fergdawg.blogspot.com/2007/07/nz-unprotected-users-liable-for-net.ht
ml

- - ferg

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--
"Fergie", a.k.a. Paul Ferguson
 Engineering Architecture for the Internet
 fergdawg(at)netzero.net
 ferg's tech blog: http://fergdawg.blogspot.com/


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