Stay Smart Online week
Help works with you to reverse online threats.
October 8-14 is Stay Smart Online week, an Australian Government initiative long supported by Westpac to stand united against cybercrime with other Australian businesses.
One of our highest priorities at Westpac is keeping your personal and financial information safe from cyber threats. In support of Stay Safe Online’s theme ‘Reversing the Threat’, we are sharing some security initiatives that we have in place, as well as 3 key security tips you can easily apply, to keep your banking safe online.
For more information on online security visit westpac.com.au/security.
3 ways to keep your banking safe online.
This year scammers have been continuing to trick consumers by posing as utility providers wanting access to your computer. Sometimes the phone call can be unexpected, or just bad timing as you may have recently spoken to your provider and therefore may not be surprised to receive the call.
The scammers are becoming more sophisticated using their old tricks calling to say there is a virus on your computer which needs fixing but now, in a new twist, scammers might also tell people they need your help to catch hackers.
During this scam you are generally asked to install a piece of software onto your PC. The technical name is 'remote access software' and this software allows information, or even control of your computer to be shared remotely with another user.
Once the software is installed and active, the fraudster may attempt to control your computer without your permission or knowledge, which includes accessing your Online Banking if you have signed in.
It is critical that when changing a BSB and Account number or making an urgent payment as a result of an email received from a supplier or known associate, you verbally validate the request before taking action.
In 2017, Australian businesses were targeted by business email compromise scams with this trend continuing in 2018. Reports to the Australian Competition and Consumer Commission (ACCC) and Australian Cybercrime Online Reporting Network (ACORN) about this scam exposed over $22.1 million has been transferred from businesses to scammer accounts during this period.
To help avoid financial loss
- Always verbally confirm BSB and Account number changes using a trusted phone number. Confirming a change via email is not a secure method of validation.
- Scammers often pose as executive staff members to direct employees to make urgent payments. Once again, always verbally validate these requests using a trusted phone number.
- If you are unable to contact the requestor, contact the recipient bank to confirm if the BSB and Account number matches the name on the account.
3 ways we keep your banking safe online.
Security devices provide an increased level of security. Westpac Protect™ SMS Code or SecurID® tokens help to protect you by providing you a unique code to confirm certain transactions and features when you bank online.
It's quick, simple, doesn't interfere with the majority of your day to day banking. Adding a security device also offers increased features to your Online Banking such as:
- Increased security (free of charge
- The ability to instantly reset your Westpac Live password online if you've forgotten it
- Flexibility to instantly increase your limit online
- Same day 'Pay Anyone' payments to other Westpac accounts
- Alerts to unauthorised activity
- Access to additional payment types
- Access to User administration functions for Administrators.
Registration is quick and easy
Take just 2 minutes to register. Personal customers, sign in to Westpac Live, select 'Preferences' from the 'Services and preferences' tab, then ‘Security’ and follow the simple step by step instructions. If you don't have a mobile number on file or require a token, you'll need to call us to register.
Administrators of Business networks can register their users for SMS Code by selecting the 'User administration' from the 'Services and preferences' tab once signed in, then click the arrow button next to the user's name and select the SMS Code or Token option. Then follow the simple step-by-step instructions.
We’ve enhanced our mobile banking experience to include new services and features which get to know you and your digital identity, to help keep your banking safe when you are on the move (or mobile?).
Some of our enhancements include providing phone permissions when installing the Westpac Mobile Banking App. So, to make sure you understand what features we access and what data we actually collect, a more detailed breakdown and guide of the permissions is available for both iPhone and Android devices.