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Customer security - Corporate Responsibility

Customer security

Our approach

Maintaining customer confidence in electronic banking

ANZ's advanced electronic banking facilities are a major aspect of our commitment to provide convenient banking services for customers. However, facilities are only convenient when customers feel confident and safe about using them.

That's why we have led in implementing, evaluating and refining advanced security systems to ensure that customers can place complete confidence in our Internet Banking and credit card systems, and to minimise losses due to fraud.

Protecting customers online

ANZ has a number of measures in place to give our customers the highest available level of security for their Internet Banking transactions. These include:

  • sophisticated Fraud Detection System that flags suspicious activity
  • Data encryption to prevent unauthorised access to personal information
  • A firewall to prevent unauthorised network access
  • Automatic time-outs on Internet Banking sessions.

In the unlikely event that a customer becomes a victim of fraud, ANZ guarantees that they will be reimbursed for any unauthorised transactions, as long as they have complied with the Electronic Banking Conditions of Use.

Two-factor authentication

Two-factor authentication is available for customers using ANZ Internet Banking for Business.

The system involves a key ring sized Security Device that generates a new six digit number every 60 seconds. Every time a customer transacts with a third party via Internet Banking, they enter the Code displayed on the screen of their Security Device, which is then verified as part of the transaction approval process.

Falcon: preventing credit card fraud

ANZ's 'Falcon' system monitors all credit card transactions for fraudulent activity. Falcon uses artificial intelligence (neural networks) to look for anomalies in customer spending patterns, and provides these to a dedicated team of fraud operators.

The 24-hour system monitors activity on all ANZ issued consumer and commercial credit cards. Similar systems are in place to cover ATM and EFTPOS transactions.

Case study: Fraudlink - Protecting Internet Banking transactions

Fraudlink monitors customer transactions on Internet Banking and identifies transactions and behaviour that is inconsistent with the customer's previous activity and may indicate fraud on the account. This allows ANZ to take action to minimise potential loss to customers and ensure emerging trends in attempted fraud are detected and prevented earlier.

2009 results

We track the performance of our fraud detection system through losses incurred through fraudulent activity.

Continual refinements to our fraud detection processes saw an over 50% reduction in losses associated with Internet Banking fraud compared to the same period last year.

ANZ's losses from fraudulent activity on credit card accounts reduced by 20% in 2009.

The future

ANZ is introducing stronger authentication measures to Internet Banking in early 2010 to provide a more secure online environment for our customers. Further enhancements to our fraud detection system will be implemented in the coming 12 months.

2008 results

A major innovation in 2007/08 was the introduction of a two-factor authentication system for customers using ANZ Internet Banking for Business.

The system involves a key ring sized Security Device that generates a new six digit number every 60 seconds. Every time a customer transacts with a third party via Internet Banking, they enter the Code displayed on the screen of their Security Device, which is then verified as part of the transaction approval process.

The future

Constantly changing technology means we must continue to find new ways of protecting our customers from unauthorised transactions.