ANZ is introducing a new security feature called Digital Padlock to enhance customer security.
Set to launch in mid-2025, ANZ’s Digital Padlock will enable customers to instantly secure their accounts via the ANZ App, ANZ Plus, and Internet Banking if they detect fraudulent activities.
This feature will allow users to quickly shut down digital access and prevent unauthorised transactions.
The Digital Padlock blocks both credit and debit card transactions and notifies ANZ’s fraud monitoring system, Falcon, which acts swiftly to counteract potential scams.
Maile Carnegie (pictured), ANZ group executive for Australia retail, emphasised the importance of this tool.
“Cybercriminals are constantly finding new ways to target Australians,” Carnegie said. “The more tools customers have at their fingertips to protect their money, the better.
“ANZ Digital Padlock takes just a few clicks so it will give our customers direct, real-time control over the security of their own accounts.
“It will provide some extra peace of mind for customers, knowing that they can act quickly if they think they are at risk of being compromised and protect them from common scams currently targeting Australians, including phishing and impersonation scams.”
The security measure aligns with a decrease in scam reports — 494,732 filed in 2024, down 17.8% from the previous year, demonstrating the impact of enhanced public awareness and reporting strategies. This trend highlights the necessity for ongoing vigilance and robust tools to combat evolving cyber threats.
The Digital Padlock feature ensures that locking the accounts will not affect pre-scheduled payments, such as loan repayments or direct debits, maintaining financial consistency for users.
Customers can regain full access to banking services through ANZ’s customer support once they feel the threat has been mitigated.
ANZ has also rolled out a new team within its customer protection division, dubbed the ANZ First Responders. This group specialises in assisting customers who might be the targets of cybercrime, enhancing the bank’s proactive support system.
These developments are part of a broader effort by ANZ to integrate multiple security layers to safeguard its customers. This includes the imminent launch of additional features like Confirmation of Payee and Crypto Protect, alongside ongoing enhancements to the Falcon monitoring system.
ANZ also continues to prioritise customer education on scam prevention, incorporating a new scams awareness module into its MoneyMinded financial education program to better equip customers with the necessary tools to recognise and prevent fraud.
