St George internet banking safer

Internet banking security at St George Bank will leap ahead of the ANZ Bank when it introduces a "two-factor" authentication tool in the next few months. The authentication system will require customers to enter a single-use password which can be generated by a hand-held device or sent to a pre-registered mobile phone. Two-factor authentication systems have been credited with preventing a significant amount of online fraud over the past five years and are already being used by many banks including NAB, Westpac and Commonwealth. St George already offers a service that alerts customers via SMS or email when certain transactions are performed on their account.

Source: The Australian Financial Review