Protect your online banking with 2FA

As part of Cyber Smart Week the New Zealand Bankers’ Association is reminding people to get two-factor authentication to help protect themselves and their money when banking online.

“Protecting your PINs and passwords is a good way of keeping your banking safe. Using two-factor authentication, or 2FA, is another way to fight financial crime,” says New Zealand Bankers’ Association acting chief executive Antony Buick-Constable.

“Most banks now offer 2FA to access online banking or to authorise transactions over certain limits.

“2FA is an extra layer of protection on top of your password. With 2FA in place, if someone knows your password, they won’t necessarily be able to steal your money.

“Banks offer 2FA in different ways. Some send you codes by text message to approve certain transactions, while others use a device or token to provide an extra layer of security for you to access your accounts.

“It’s worth checking with your bank to see if they offer 2FA, and how to activate it.”

Two-factor authentication is also available for other online accounts, including email, social media and shopping.

Cyber Smart Week runs from 8 to 12 October and is organised by CERT NZ. ‘Protect your online self’ is this year’s theme. Other ways to keep yourself safe online are to:
• Use unique passwords
• Update your apps, and
• Check your privacy.

For more information, see https://www.cert.govt.nz/cybersmart/.

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