ANZ has launched a ‘Digital Padlock’ feature, allowing customers to immediately lock their accounts if they suspect fraudulent activity. Accessible via the ANZ App and Internet Banking, the Digital Padlock serves as a safety measure for customers fearing unauthorized access.
Once activated, it prevents digital access, blocks eligible banking cards, and secures banking services until the customer contacts ANZ for confirmation of a secure restoration. Melissa Hendrickson, ANZ’s fraud and scams lead, emphasizes its importance: “When a scam hits, every second counts. Digital Padlock lets customers shut things down immediately, providing real-time support during a stressful situation.”
This initiative comes as ANZ reports it successfully prevented and recovered over $100 million in scam-related funds within nine months. Financial losses from scams dropped by 15% from October 2024 to June 2025, following a significant 49% decrease during the previous year.
ANZ’s First Responders team has resolved 93% of scam-related calls at the first contact, handling nearly 150,000 calls in the reporting period.
In related news, National Australia Bank (NAB) is implementing a policy requiring new customers to take a ‘selfie’ while opening an account online, aimed at reducing identity theft. Customers will also need to scan a form of ID, like a Driver’s License or Passport, to confirm their identity. This initiative will begin rolling out in September and expand to additional product types in the coming months. NAB COO Les Matheson notes this will hinder criminals from creating fraudulent accounts with stolen documents.
NAB employs biometric technology, with approximately 2 million customers using FaceID or fingerprints to access their accounts each month. They also use behavioral biometrics to identify suspicious transactions.
Meanwhile, Macquarie Bank has joined BioCatch Trust Australia, a real-time fraud intelligence-sharing network that assesses transaction risks before funds leave the sender’s account. Launched in November 2024, this network has evaluated $500 billion in payments and saved customers millions in potential losses. The addition of Macquarie means that 85% of customer accounts in Australia are now part of this network.