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We’ve Upgraded To One-Time Password Security

From April 28th, we’re updating our security for both the SCCU APP and Web-Based Netbanking to include One-Time password on some transactions.

One-Time Passwords, also known as Multi-Factor Authentication, is one of the most effective controls that can be implemented to prevent unauthorised access to your accounts. So effective in fact, that the Australian Cyber Security Centre (ASCS) has listed it as one of the ‘Essential Eight’ from the ‘Strategies to Mitigate Cyber Security Incidents’.

“But what’s wrong with my Password?” you may ask. Password Attacks such as Brute Force (the practice of entering all possible password combinations for a single username until the correct one is found) and Spray Attacks (the practice of trying a common password against many usernames), as well as reused passwords accessed through Data Breaches, can leave your account susceptible to unauthorised access.

An everyday example of Multi-Factor Authentication is a cash withdrawal from an ATM. The first level of authentication is having the physical card, and the second level is your PIN. In the case of your SCCU NetBanking access, the first level will be your Customer ID/Login and Password, and the second level will be the One-Time Password.

The advantages of two factor identification overwhelmingly offers better protection than a password alone. We are not alone in adopting this technology. Many large scale organisations including Google, AfterPay, LinkedIn and the likes have all implemented One-Time Passwords to enhance the security for their customers.

Frequently Asked Questions

1. What if I don’t have Mobile Reception?

You will be able to use the VIPAccess APP on your SmartPhone to generate your One-Time Password. This APP can be used without any internet connection, so if Mobile Reception is limited or unavailable, you will still be able to access a One-Time Password. If you need to use the VIPAccess App, please call us on 1300 360 744 to activate the App on your account.

2. What if I don’t want to use a One-Time Password?

Implementing multi-factor authentication is one of the easiest, most effective actions companies can take to improve security of client data. It’s no longer a ‘nice to have’ but a genuine necessity. It is now an important part of the SCCU banking experience to ensure the safety of your accounts.

3. Am I going to be charged for a One-Time Password?

There will be no cost to SCCU customers for the activation of One-Time Password.

4. I have antivirus software installed on my computer already, why do I need a One-Time Password?

Alex Weinert, Director of Identity and Security at Microsoft, said in a Microsoft Community Post published in July 2019 that based on their studies, “Your account is less likely to be compromised if you use Multi-Factor Authentication”. Though antivirus and firewall solutions can form part of your defence against cybercrime, their protection only reaches so far.

5. How do I update my phone number?

To update your phone number you will need to contact us on 1300 360 744 or head into your local branch.

6. What if I receive an authorization code that I didn’t request?

Please contact us on 1300 360 744 as soon as possible to let our Customer Service Team know, and have us assist you in the next steps to ensuring your account is secure.

7. Do I still need a token

No you don’t. While they will continue to work, we encourage you to carry less and download the VIPAccess APP that does the exact same thing.

 

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