NZ bankers may ease up on e-fraud hard line

There are signs that the New Zealand Bankers' Association may be changing its hard-line approach on card fraud being the customers' problem if it transpires that their PCs do not have the latest browser and IT security software updates loaded.

As reported previously, since the start of the month, the NZ banks and other allied financial institutions have been adhering to a code of conduct that places a duty of care on account holders to ensure their IT security and Web browsing software is up to date.

In the event of a fraud taking place, the new code means that the card issuers can request an audit of the software on the users' PC.

And woe betide any punters that fail to have the latest applications installed, as the new banking code effectively allows the institution concerned to deny e-fraud reimbursements.

Let's hope they change the code in New Zealand before their British counterparts get any bright ideas...