NZ banks start reneging on online card protection...

Reports are coming in that banks in New Zealand, of all places, are starting to reject customer claims of Internet fraud on their card accounts.

According to newswire reports from down under, NZ banks are no longer automatically reimbursing victims of Internet banking fraud if their computers are found to be insecure.

The move follows eBay announcing it has sent fraud investigators and computer kit to Romanian law enforcement agencies to try and curb the country's high online fraud rate.

Under New Zealand's new banking code of practice, which came into effect on Sunday, financial institutions now reserve the right to conduct a forensic analysis of fraud victims' computers.

If the system lacks the relevant operating system updates and security software, they will refuse reimbursement claims.

"The code clarifies responsibilities," Bankers' Association chief executive Alan Yates is quoted as saying.

"The customer has a responsibility to keep their identity and information safe. They may be liable if they breach the banks' terms and conditions," he added.

Thanks a bunch Mr Yates. Top marks for thinking of the customer.

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