Financial Crime World

Fiji’s Financial Institutions Step Up Security Measures

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Fiji’s leading financial institutions have taken significant steps to safeguard the financial well-being of its citizens by implementing various security measures to protect personal account information.

Enhanced Security Features

Data Encryption: A Coded Language

Financial institutions encrypt words and numbers using 128-bit SSL (Secure Socket Layer) technology, making it impossible for unauthorized users to read or change sensitive information.

Firewalls: A Barrier between Your Computer and the Internet

A firewall acts as a security guard in front of a building, preventing unauthorized access to and from the network. This ensures that only authorized data enters and leaves your computer.

Two-Factor Authentication: An Added Layer of Security

To log in to ANZ Internet Banking, customers are required to complete two additional steps:

  • Verifying the site’s authenticity through a ‘Site Key’
  • Confirming their identity by answering security questions

Additional Precautions

  • Keep passwords, PINs, and security codes secret
  • Shop online only with reputable companies
  • Keep devices secure:
    • Lock them
    • Update anti-virus software
    • Avoid public computers or Wi-Fi
  • Be cautious of scams and stay informed about the latest fraud schemes

The Fiji Financial Services Authority has emphasized the importance of customers being vigilant and taking proactive steps to protect their financial information.

Mobile Banking Security Features

Financial institutions have implemented mobile banking security features, including:

  • Fingerprint, face, or other biometric identification access controls
  • Customers are advised to monitor their accounts regularly by checking statements for any suspicious transactions.

Reporting Suspicious Activity

If customers notice anything unusual or suspect fraudulent activity, they are urged to contact the financial institution immediately. “We take the security of our customers’ information seriously and will investigate any reported incidents promptly,” said an ANZ spokesperson.

By adopting these measures, Fiji’s financial institutions aim to provide a safe and secure environment for customers to manage their finances with confidence.