2-Factor Authentication is currently only mandatory for certain regions and for customers using Xero, but it is strongly recommended for all users in order to keep your account secure.
Regions where 2FA is mandatory:
- Australia (December 2020)
Why is 2FA mandatory in Australia?
Due to Australian Tax Office regulations, software which has access to tax or super related information must have 2-Factor Authentication in place for all users accessing data from companies based in Australia.
In order to be compliant with this rule, and due to Float's connection with Xero, 2-Factor Authentication is mandatory for Xero users connecting to companies based in Australia. If you do not have 2FA enabled, you will be unable to access your Float account. You can read more about this mandate from the ATO here.