Cyber investment strengthens trust and prevention
ANZ New Zealand has rolled out a suite of advanced fraud-prevention tools that are transforming how it detects, blocks, and prevents scams.
The bank’s latest technologies have already stopped more than $15 million in fraudulent transactions and helped dismantle 3,000 fake websites, reinforcing its long-term commitment to customer protection.
Alan Thomsen (pictured), head of customer protection at ANZ NZ, said the bank’s new digital capabilities are helping prevent crime before it happens.
“Scams can have a profound impact on our customers, both emotionally and financially,” Thomsen said in a media release. “But with real-time risk monitoring and behavioural insights, we’re able to intervene – often before a transaction is completed – delivering on our commitment to protect not just customer funds, but the trust customers place in us.
“As scams become more complex and AI-generated attacks rise, we’re not just reacting to fraud, but anticipating it. It’s another way we’re building a safer banking experience for our customers, every day.”
Smart tools cutting crime before it hits accounts
Among ANZ’s most effective innovations:
- Behavioural Alerts – Using AI to detect unusual patterns in customer device use, blocking over $1 million in suspicious payments within eight weeks
- Cyber Quarantine Tools – Shutting down more than 3,000 scam websites before they reached customers
- Confirmation of Payee – Cutting mistaken payments by 30% by ensuring transfers go to verified recipients
- Dynamic Security Code (DSC) – A temporary three-digit code that changes every 12 hours, reducing card fraud by 54% compared with static cards
- ANZ Fraud Check – Sends real-time SMS confirmations for potentially risky transactions, allowing customers to verify or block payments instantly
Thomsen said customer losses have continued to fall even as scam activity has become more sophisticated. In the first half of the financial year, fraud and scam reports declined 9% year-on-year, while customer losses dropped 7%. Enhanced prevention and recovery systems ensured 94% of reported cases resulted in no financial loss.
Part of a broader national effort
ANZ NZ’s work builds on the coordinated efforts of the New Zealand Anti-Scam Alliance — a government-industry partnership that focuses on real-time data-sharing and public awareness campaigns to curb scams that still cost the economy billions each year.
ANZ continues to share data on mule accounts and suspected scam activity through the alliance network, helping protect thousands of customers nationwide.
Cyber Smart Week: Prevention through awareness
As part of its broader anti-fraud campaign, ANZ NZ is supporting Cyber Smart Week, encouraging customers to take simple steps to strengthen online safety.
“We are encouraging all New Zealanders to take a moment to own it by making long and unique passwords and turning on two-factor authentication,” Thomsen said.
“Our message to our customers remains the same: don’t click on suspicious links, don’t share personal information, and always take a moment to check.”
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