Tips to improve your banking security

Protect your business from fraud

Scams are growing in sophistication every day. It's important that you know about potential risks so that you can better protect your business from fraud.

Here are some simple steps you can take to help protect your online accounts.

Use strong passwords and keep them a secret

A strong password is:

between 8 and 256 characters in length - a longer and more complex password is harder for others to decipher
a combination of upper and lowercase letters, numbers and special characters (e.g. ! ; - ( ) %)
unique – so don’t repeat your password across multiple websites or services
never shared with anyone.

If you believe your password has been compromised, change it as soon as possible.

Protect your devices

Your devices are your gateway to the internet and need to be protected. Ensure your antivirus software is up to date with the latest version. Avoid using unsecure WiFi networks such as public hotspots for sensitive activity like online banking.

Nominate dual authorisers or utilise a daily transaction limit

By setting up dual authorisation and daily transaction limits on all your accounts you’ll be maximising your level of security which will help keep all your transactions safe.

To upgrade an existing user to be an authoriser, complete the Amend Electronic Banking access form
To set a new user up with dual authorisation access, complete the Setup Electronic Banking access form.

If you’d like to nominate a daily transaction limit on your account, you can do this by completing the above 'Amend Electronic Banking access' form.

Monitor your accounts

Keep an eye on your accounts and be sure to let us know if you see any transactions that you don’t recognise.

Check payment details carefully

When setting up a payment, it’s important to ensure the BSB and account number are correct. Entering incorrect details may mean the wrong account is credited and it may not be possible to recover the funds.

If you receive an email asking you to make a payment to a new BSB and account number, always verbally check if the request is legitimate. You can do this through a trusted or publicly available phone number.

To find out more about protecting your merchant terminals, visit our Merchant Fraud page.

Tips to improve your banking security

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