Business commentator Rebecca Stevenson

New Zealand banks are under fire for failing to protect customers from financial frauds, with losses from scams estimated at close to $200 million a year. Rebecca also talks about the banking study. She says the Commerce Commission has taken the media bull by the horns on this, cranking out lots of information, asking for lots of feedback, and defending the market study regime. Commerce Commission chairman John Small held a conference call with competition general manager Antonia Horrocks last week where he said the Commission's three market studies had already benefited NZ consumers. Rebecca Stevenson is a senior writer at interest.co.nz.