Turn on extra security for your online banking

Most Australian banks already require a second factor for transfers, but settings vary. A few minutes confirming yours can save a lot of grief.

1. Log into your internet banking on a computer and find the Security or Profile settings.
2. Confirm a second factor is enabled for logins and payments — usually a code by SMS, in-app approval, or a physical token.
3. Where the bank offers it, switch to in-app approval rather than SMS, as it resists SIM-swap fraud.
4. Set up or confirm a payment limit, so a single fraudulent transfer cannot drain the account.
5. Make sure your registered mobile number and email are current, as that is where alerts go.
6. If anything looks unfamiliar, ring the number on the back of your card — never a number from an email or text.