These days the majority of us do at least some of our banking online, either through our website or through the myMOVE App.

While these channels make banking more convenient it also means that keeping your internet banking details secure is of the utmost importance. 

 

The Issue:

We’ve recently become aware of a new generation of budgeting websites and apps that a few members have used to help them track their day to day finances.

These websites/apps require you to provide them with your myMOVE banking username and password so you can view your account information using their platform.

 

The Risks:

Providing your myMOVE banking username and password to anyone represents a critical risk to your account security.

While some of these websites claim they have “read-only” access to your account (i.e. they can see your account details but are unable to make any transactions), in reality is they have FULL access to your account and can perform actions as if they were you.

There are many risks associated with a giving a third party access to these details including

  1. Employee Fraud

An employee working for one of these websites could commit fraudulent actions on your account – including stealing your money by simply transferring funds out of your account

  1. Hacking

Your internet banking details are now being stored by this website. If their security is breached your details could be stolen by a third party and used to access your account

  1. Liability for Unauthorised Transactions

Under the MOVE Terms & Conditions you are required to keep your internet banking details secure. If you have provided your details to a third party, who then makes unauthorised transactions on your account, you will be liable for any losses that occur as a result.  

 

If you have provided your details to a third party

Change your password immediately by...

  • Contacting us on 1300 362 216 Monday to Friday from 8.30am – 4.30pm
  • Logging in to myMOVE Banking and selecting ‘Change Password’ from the “My Preferences” Menu.