Payment Fraud Index: New Zealand 2026

New Zealanders lost NZ$265 million to fraud in the 12 months to October 2025, according to the Payments NZ Reported Fraud Monitor, which covers 12 of New Zealand's largest banks. Of that total, NZ$126 million involved authorised payments where victims were manipulated into approving the transaction, and NZ$139 million came from unauthorised transactions. Separately, the NCSC recorded NZ$29.1 million in direct financial losses reported through its cybercrime reporting system across 2025. The two figures measure different reporting populations and should not be combined.

The NCSC attributed the largest quarterly loss spike in its recorded history to BEC. In Q3 2025, direct financial losses jumped 118% quarter on quarter to NZ$12.4 million, with the NCSC specifically citing business email compromise as the driver. BEC attacks in New Zealand follow the same pattern seen globally: a bad actor gains access to or spoofs a legitimate email account and sends fake invoices or changes supplier payment details to redirect funds.

The NCSC recorded NZ$29.1 million in total direct financial losses across 2025, with significant quarterly variation. Q1 2025 saw NZ$7.8 million in losses, the second-highest quarterly figure ever recorded, before losses fell to NZ$5.7 million in Q2. Q3 2025 then spiked to NZ$12.4 million, driven by a surge in BEC attacks. Scams and fraud was the most reported incident category in every quarter since Q4 2024. The NCSC also recorded a 50% increase in scams involving employment and business opportunities in Q3 2025.

From November 2025, New Zealand banks are required to reimburse scam victims for authorised payment losses up to NZ$500,000 under new commitments in the New Zealand Banking Association's Code of Banking Practice. The scheme covers authorised push payment fraud, where a customer was manipulated into approving a payment to a fraudulent account. Reimbursement is subject to the customer having taken reasonable care. The policy represents a significant shift in how fraud liability is allocated between banks and their customers in New Zealand.