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.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>


Crown Accounts: Govt Books In Line With Forecasts

The Government’s financial statements for the four months to 31 October indicate the books are tracking along with Treasury’s Budget forecasts, Finance Minister Grant Robertson says. More>>


Expert Reaction: Ross Sea Region Marine Protected Area In Force

Sweeping new protections for Antarctica's Ross Sea will come into effect on Friday 1 December. After five years of debate, the marine protected area (MPA) was agreed in 2016 after a joint proposal by New Zealand and the United States... More>>