Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NetGuard Service Extended to Business Customers

NetGuard Service to be Extended to Business Customers

Bank of New Zealand announced today a new security measure for Internet business banking customers as an added precaution against online fraud.

Research shows that online fraudsters target customers of financial services more than any other type of business*, says Shona Bishop, general manager marketing, Bank of New Zealand.

“So we are extending our NetGuard service to provide an added layer of security for business customers when banking online.

“The increasing sophistication of online fraud, like phishing scams and other types of e-crime is of concern to us and our customers. We take security matters very seriously and are committed to being a leader and innovator in this area.

“From late February we will offer additional security, known as second factor authentication (2FA), to all our business and personal customers – the only major bank in New Zealand to do so.”

NetGuard for business customers is an electronic token, and works by generating a one-off random code that changes each time customers log on to Internet banking. The Bank is currently undertaking a trial with a small number of customers prior to wider availability in February.

“NetGuard is used at each login, protecting not only personal information from identity theft but also customer funds from the very beginning of the session”, says Ms Bishop.

“NetGuard is like a safe within a safe. Even if a customer’s login details were compromised, fraudsters would not be able to access the account without the NetGuard token assigned to that account. It’s even effective in protecting customer information in high-risk environments such as Internet cafes, where the integrity of the computer can’t be verified.”

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news