bankingciooutlook

Five Tips for Better Mobile Banking Security

Banking CIO Outlook | Monday, July 12, 2021

Using personal information such as your birthday or a pet's name is convenient for passwords, but it's also a formula for disaster because many people already know such information or may easily obtain it by looking at someone's social media page.

Fremont, CA :  Because of the numerous large data breaches, mobile banking security has recently become a hot topic, and we all need to take internet safety into our own hands. One thing is certain: you can never be too careful, especially regarding internet safety.

Although there is no reason why you shouldn't feel at ease using online banking services, you should be aware of the best practices. So follow these five mobile banking security tips whether you're using mobile payments, digital wallets, or just checking your balance.

Beware Of Phishing

Phishing and social engineering are the most typical ways for personal information to be compromised. A phishing scam can be easy to recognize at times, but it can also appear to be a legitimate email from a friend, employer, or service provider. Don't click any links if you receive a communication from someone you don't know or if anything doesn't feel right.

Secure the Device

When using any type of internet banking, you must ensure that your devices are safe. On your home computer, install anti-malware software and make sure your wireless connection is secure. You don't want strangers to be able to connect to your wireless network because this provides them access to your personal data.

Use The Bank's App

The official mobile app of your financial institution is one of the safest ways to undertake mobile banking. While you may be able to get the same results using a regular browser, the app adds an added layer of security.

Check Password

Your internet password is your first line of defense. Unfortunately, many people make the mistake of using a password that isn't as safe. For example, using personal information such as your birthday or a pet's name is convenient, but it's also a formula for disaster because many people already know such information or may easily obtain it by looking at someone's social media page.

Ensure sure your mobile device is password-protected. You don't want to make it easy for someone to access your information if your phone is ever forgotten or stolen. Instead, choose a code that is difficult to decipher, preferably a random sequence of integers.

Pay Attention to the Location

Keep your mobile device with you at all times. It's easy for someone to take it from you while you're out in public, so don't let it out of your sight for even a second. Also, when utilizing mobile banking apps, be aware of your location. While making a deposit on the go is handy, it is not necessarily secure. When you deposit a check in a coffee shop, for example, anybody can see your confidential information simply by peeking over your shoulder.

Avoid utilizing public WiFi if at all feasible. These networks are more vulnerable since they are more open. As a result, hackers could be watching your activities and taking your data.

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