SOAR Platform / Blog / Six Mobile Banking Security Tips

Six Mobile Banking Security Tips

Mobile banking has changed the way we access and control our bank accounts. Internet banking has made our lives easier by letting us bank from the comfort of our desktops and laptops. However, as convenient and simple this technology is, that is not to say that it does not come with its share of disadvantages. The biggest disadvantage of being online banking threats. Here is a list of six mobile banking security tips to help keep you secure when banking from your phone.

  1. Only use official apps

    An app’s publisher is responsible for the safety and integrity of their app; only your bank will take your privacy and safety seriously. There are many banking apps on the market and App Store; some manage your accounts others might pose as a legitimate bank. For that reason, it is important to ensure and trust the app that has been officially released by your bank. If there are many variations of your bank’s app on the market, the safest way to do this is by visiting your bank’s official website and following their instructions on how to download the app.

  2. Avoid using banking apps on public Wi-Fi

    Public Wi-Fi is always convenient to come across, especially when you have run out of data. However, when using public Wi-Fi, it is important to understand that the network is not secured. For that reason, when using public Wi-Fi networks always avoid using sites and apps that require you to sign in with your credentials. The information you pass over public Wi-Fi can easily be stolen or intercepted by a hacker. It is always advisable to use your cellular Internet data whenever you wish to use your app for any kind of banking activity; otherwise, it is best to wait until you get home to handle your finances.

  3. Do not click on unsolicited links and attachments

    Links that you receive via SMS from your “bank” are almost always a phishing method. Never click on links you receive in an SMS or email that claims to take you to your bank’s site. If you need to visit your bank’s site be sure to access it directly using their official link. Additionally, never share any baking information over an email, SMS, or call that is not confirmed to be your legitimate banking institute.

  4. Make Sure to Manually Log Out of all Sessions

    When you are finished using your mobile banking app, ensure that you have logged out of the app manually. While most banking apps automatically log you out after a fixed period of inactivity, it is always best to do it yourself.

  5. Never store banking information on your phone

    While keeping information on your phone might be convenient for you, it can easily be stolen either physically or through a hacker who has gained access to your phone. Should you ever lose your phone or get hacked this sensitive data can fall into the wrong hands.

  6. Password lock your phone

    Should you ever lose your phone and someone gets their hands on it, a strong password lock can be the difference between having someone having access to your personal files and someone simply giving up on trying to access it. Your phone contains all your information, photos, and apps that run on your phone (including your banking app). Someone who has no intention of returning your phone back can easily exploit all this information. To prevent this from happening to you, make sure to always keep your phone on auto-lock.

Leave your comments