Articles tagged with Fair Trading Act
New Anti-Scam Measures Protect Kiwis and Businesses from Online Fraud
2 weeks ago | 179 viewsThe Anti-Scam Alliance in New Zealand has launched new initiatives, including expanding the banking sector's "Confirmation of Payee" system and introducing the New Zealand Online Scams Code, to better protect people and businesses from scammers. This collaborative effort involves telcos, digital platforms, banks, government, and consumer groups working together to block scam content and prevent fraud, building on successful pilot programs that saved millions in losses. These measures complement legal changes and aim to create a safer online environment, giving New Zealanders greater confidence to engage in digital transactions without fear.
Tags: Cameron Brewer New Zealand Commerce and Consumer Affairs Confirmation of Payee Google Meta TikTok Trade Me Fair Trading ActNew Zealand Hikes Penalties for Misleading Advertising to Protect Consumers
7 months ago | 695 viewsThe Government plans to significantly increase penalties for breaches of the Fair Trading Act, raising maximum fines to the greater of $5 million, three times the commercial gain, or the transaction value, to better deter misleading advertising and unfair business practices. The reforms will shift most breaches from criminal to civil liability, allowing the Commerce Commission to act on a lower standard of proof, while serious offenses remain criminal, aiming to create a fairer marketplace and protect consumers. These changes follow rising complaints and aim to align New Zealand’s laws with international standards, with legislation expected to pass next year after public consultation.
Tags: Nicola Willis Scott Simpson Government Fair Trading Act Commerce Commission Consumer NZ Pak’nSave Woolworths misleading advertising penaltiesMinister Calls for Supermarkets to Ensure Fair Pricing Practices for Kiwi Shoppers
12 months ago | 1873 viewsEconomic Growth Minister Nicola Willis has written to the major supermarkets to restate the basic expectation that they take all steps needed to comply with the Fair Trading Act and ensure Kiwi shoppers are not subjected to misleading price claims. “Supermarkets have statutory obligations under the Fair Trading Act to ensure that pricing information is accurate and does not mislead consumers. “I am disappointed that I have to spell out to some of New Zealand’s biggest and most sophisticated retail operators - Foodstuffs North Island, Foodstuffs South Island, and Woolworths - that they should have in place processes to prevent inaccurate pricing, institute and publicise refund policies, and train staff to ensure that when errors are reported, fixes occur system-wide.
Tags: Australia Commerce commision Commerce commission and consumer new zealand Fair trading act Foodstuffs north island Foodstuffs south island New zealand Nicola willis Paknsave Woolworths Zealand