Labour are pledging a new anti-scamming unit in an effort to protect Kiwis' cash.
The party's Commerce and Consumer Affairs spokesperson Duncan Webb said they wanted to "stamp out" scams that had been targeted a huge chunk of Kiwis in recent times.
“Many victims are amongst our most vulnerable and cross sector support and cooperation is vital to ensure Kiwis are being protected," Webb said.
People can lose significant amounts of money to scams and it's particularly concerning for elderly New Zealanders, he said.
“We know that 9 out of 10 New Zealanders were targeted by scams in the last 12 months. Reports show that Kiwis were scammed out of a record $20 million last year alone."
Webb said the unit would be made up of 15-20 experts and would sit inside the Financial Markets Authority (FMA).
He said it would include support from other agencies such as the Reserve Bank, MBIE and police.
"Representatives from banks, telecommunications firms and social media companies will be included in the Unit’s work, as will non-government agencies such as consumer advocates."
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