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Friday, July 14, 2023

Bob Jones: Bank scams


Currently Kiwis are losing nearly 200 million dollars annually to scams. It is an extraordinary amount which testifies to the decline of our newspapers’ readership, they regularly publishing warnings against accepting plausible sounding messages purporting to come mainly from banks, but also other activities.

Half a century back virtually every household had a daily newspaper delivered and people were thus better informed. But alas, today in an age of cell-phone obsession and pervading ignorance plus an obsession with social media, that’s no longer the case.

Both the government and the banks employ large numbers of people working on ways to overcome this problem but to date they’re fighting a losing battle.

What irritates me are the regular newspaper accounts of victims protesting at their banks refusal to compensate them for their personal gullibility in authorising the payments.

In the interim there’s no doubt the scamsters are winning and I anticipate the total losses will continue to climb in the foreseeable future.

One elementary step would be for the government to deliver a brochure to every household, warning against seemingly plausible email and other electronic communications and providing one’s bank details. Large scale fraud, thanks to digital dependency is now a huge international industry.

Bankrupt North Korea survives on it, its clever state computer operators last year cleaning up billions scamming the idiotic Bitcoin boom.

We’re certainly living in alarming times. Thank God for sport to maintain our sanity.

Sir Bob Jones is a renowned author, columnist , property investor, and former politician, who blogs at No Punches Pulled HERE.

3 comments:

Doug Longmire said...

Personally, I treat any text or e mail message of this type exactly as if it were a total stranger knocking on my door and saying:-

"I am from Microsoft/ANZ etc and your bank account has a problem. Let me into your house without verifying who I am. Give me your bank a/c number and password and let me get into your computer!"

Obviously I "slam the door"

Andrew Osborn said...

I recall that a couple decades ago a local bank manager was taken in by the infamous Nigerian scam. So much for being informed!

Sir Bob, we don't read newspapers these days because they're infested with shite, your column being a notable exception. I wouldn't use the Herald to line a kitty litter tray.

Anonymous said...

Dear Sir Robert -

Another article to inform us. I believe that this article should be "brought to the attention of the NZ Public", those who would read it, but sadly -

1/- their are many who would not research this website, it would be to much like hard work
2/ - if they did, many would not take heed of any article posted, as they may "not believe what is printed"
3/- for most Kiwi's, their cell phone & social media "tell them all they want to know".

The comment you make - "Thank God for sports to maintain our sanity"- I do believe that Sir Rob Muldoon, may have made a similar comment in 1981, prior to the South Africa Rugby Tour, and look at what happened there!

ANON, of New Zealand.