How BNZ protects your card from Fraud

financial-crime

#1

Have you heard of LENSecure?

LENSecure is a defence BNZ uses against counterfeit Credit Card and Flexi Debit Visa Card fraud. Whenever you use a BNZ ATM, the Liquid Encryption Number (LEN) changes. This means that when fraudulent attempts are made to withdraw funds from a counterfeit version of your Credit Card or Flexi Debit Visa Card anywhere around the globe, it will immediately decline. It also helps us here in the Financial Crime Management Centre, as we can identify the point at which your Card may have been compromised.

So next time you’re out and about, stop for a moment at a BNZ ATM to get an account balance (or any type of transaction) so your LEN can update.

If you’d like more information about unusual transactions on your bank statement you can visit this help and support page on our BNZ website.

And as always, if you have any questions about LENSecure, fraud or scams, please call us on 0800 ASK BNZ (275 269) and ask to speak to the Financial Crime Management Centre.


CVC-number on back of VISA-card
#2

Interesting. Sounds like a marketing-speak term for a rolling key?

It should be pointed out this will not help cardholders who are overseas and unable to access a BNZ ATM. But considering a lot of NZers go to Australia, can you do a deal with NAB?


#3

I don’t see why they couldn’t… but maybe NAB… being a parent company that “owns” BNZ isn’t as far advanced as we are. Remember NZ is at the forefront of banking technology because of our population size which makes it ideal to test new technologies. EFT-POS was trialled first in NZ and showed that not only could it be done, but that it was also a quick, safe (at that time) method of doing banking, as in deposits, purchasing and withdrawals. And that was back in about 1985.