The mobile and wireless market is one of the fastest growing in the world, and with the recent uptick of interest in tablets, it only promises to continue booming. Consumers are continuously turning to this market to take advantage of faster, more affordable and convenient ways to go about their daily activities, including online and mobile banking.
Banks have worked hard to ensure the safety of their customers, and most banks offer
multiple layers of security on their websites. In fact, most instances of bank fraud are not due to the bank’s technology being compromised, but to consumers unwittingly giving out their personal banking information via phishing scams and copycat sites, or their computers being infected with malware.
Here are some safety tips if you conduct your banking online or via a mobile device:
- Always use a malware scanner to ensure your PC is clean, and scan in daily.
- Use a reputable and comprehensive security software suite to protect your PC from viruses, spyware, adware and identity theft.
- Check your bank’s website for information about online security policies to ensure they provide adequate security.
- Never respond to e-mails asking for your online banking username and password. Banks will never reach out to you via e-mail to request this information.
- Review your financial statements and transactions upon receipt.
- Create strong passwords that include a combination of letters, numbers and symbols. The longer the password, the harder it is to guess.
- Connect to the mobile site via a secure wireless network. Don’t send sensitive information over public connections such as those found in hotels or cafes.
- Download your bank’s mobile application to ensure you always visit the real site, rather than a copycat site.
- Install anti-theft software into your mobile device and back up your data regularly.
- Set the auto-lock function on your mobile device.
- Refrain from keeping track of sensitive data on your mobile device.
- Install software with remote lock-and-wipe capabilities.
The ability to manage your finances anytime and anywhere affords a certain level of freedom and control, making the convenience of online and mobile banking too great to ignore. However, as the number of people who use these services steadily increases, so does the rate at which confidential data and identities are stolen. That’s why it’s important to have up-to-date security software, use secure networks, make strong passwords, install comprehensive antivirus software, and monitor your finances regularly. These will go a long way in protecting you and your information when you bank online and on your mobile phone.