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Major bank to scrap passwords for one million customers within months

  • ANZ will remove passwords for about one million ANZ Plus customers by mid-2025, enabling passwordless web banking in Australia.
  • The shift results from rising cyber threats and recent malware targeting Australian banking credentials published online.
  • ANZ Plus will introduce two passwordless login options—approving app requests via mobile number or using passkeys like face, fingerprint, or PIN.
  • The bank emphasized that the new authentication methods aim to enhance security by protecting users' account credentials from compromise through data breaches and phishing attempts, in line with broader industry movements.
  • This change forms part of ANZ's broader digital security strategy as Australian banks increasingly adopt advanced authentication methods.
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securityjournaluk.com broke the news in on Wednesday, April 30, 2025.
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