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Key points
- Multi factor authentication (MFA) adds an extra layer of security by requiring more than just a password to access your accounts and devices.
- MFA helps protect your devices, personal information and online accounts from cybercriminals and unauthorised access.
- Turn on multi factor authentication wherever it’s available to strengthen your account security and reduce the risk of fraud.
Multi factor authentication (MFA) adds an extra layer of security to help protect your personal information, online banking, and accounts.
Simple to set up and quick to use, MFA can help prevent unauthorised access - even if your password is compromised. Consider turning on MFA wherever it's available.
What is multi-factor authentication (MFA)?
Multi factor authentication (MFA) is a security measure that helps protect your accounts by requiring two or more ways to verify your identity when you log in or complete certain actions.
These verification methods may include:
- Something you know – like a password, passphrase or PIN
- Something you have – like a phone that receives a verification code
- Something you are – like your fingerprint or face
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How does multi-factor authentication work?
When multi factor authentication (MFA) is turned on, you'll need to complete additional verification steps when logging in or completing certain actions.
For example, you might sign in using your customer registration number (CRN) and password. When performing higher-risk activities, such as transferring money, you may then be asked to verify your identity using a one-time code, fingerprint, voice biometric or another security check.
MFA adds an extra layer of security to your accounts. Even if someone obtains your password, they may not be able to access your account without the additional verification step.
Important: Never share MFA codes with anyone or approve a verification request that you weren't expecting.
Common types of multi-factor authentication
You may already use MFA in everyday situations, such as:
- Using a fingerprint or Face ID to access your banking app.
- Entering a one-time code sent by text message when logging in or making a payment.
- Using an authenticator app to generate a code when signing in to an online account.
- Verifying your identity through voice recognition when transferring money
How is two-factor authentication (2FA) different?
You may hear multi-factor authentication (MFA) referred to as two-factor authentication (2FA). The main difference is that 2FA uses two methods to verify your identity, while MFA can use two or more. Both help protect your accounts by requiring more than just a password.
Which accounts should have multi factor authentication?
Where possible, it’s a good idea to turn on multi factor authentication (MFA) across your accounts and apps to help improve your security.
If you start with one, consider your email account first. It’s often linked to services like online banking, shopping, and social media, making it a common target for cybercriminals.
You can usually find this option in your account or app settings.
Turning on MFA is a simple step that can make a big difference in protecting your accounts and personal information.
Explore more ways to protect yourself.
What to do if you’ve been targeted by a scam
- Stop all contact with the scammer
- Report the scam to your bank and other relevant authorities immediately
- Secure your accounts and devices (for example, by changing passwords and enabling multi-factor authentication)
Where to report fraud and scams
If you suspect fraud on your account or have shared financial information or transferred money as a result of a scam, please contact your bank.
If you bank with ANZ, please contact us straightaway. Our Customer Protection Team is available 24/7 to help you.
You can also report scams to:
- ReportCyber (Australian Cyber Security Centre)
- Scamwatch (Australian Government)
For additional support, IDCare provides guidance on identity theft and cyber security concerns.
