Recent research from Auckland-based Horizon Research revealed that New Zealanders are experiencing fraud or theft from their bank accounts at the rate of 5,200 cases per week.
The study found that the equivalent of 274,000 adults said they’ve had fraud or theft from a bank account during the past year (5,200 a week); while 341,000 had security issues (6,557 per week).
Not surprisingly, Horizon Research said the poor experiences with accounts are also directly impacting banks’ Net Promoter Scores – the likelihood of their customers recommending them to others. Overall the banks surveyed had a net promoter score of +2. However, this falls to -5 when there has been fraud or theft.
Horizon said the research indicates banks are carrying a large burden of fraud, theft and security issues being experienced by New Zealanders. It also indicated reported incidents of cybercrime may be very low compared with what bank customers say they’re actually experiencing.