In a busy and technological word, Mobile Banking offers an amazing banking experience to customers on their mobile devices. With the expansion in mobile banking usage, cyber criminals are also evolving new tactics to steal user’s information and money. In this way, we as a customer of mobile banking should consider some security precautions while dealing with mobile banking.
In this article, I would like to draw attention to useful top seven mobile banking security tips. So now let’s start with first security tip.
1. Be careful what you download
Always be careful while downloading banking apps on your mobile device. Many fake apps are available that might look like legitimate but aims to steal your login details and money. Download only verified apps, whether you have an android, iPhone or any device. It is sensible to visit your bank site to get the information about mobile banking app.
2. Read the fine print if any
While downloading the app, read carefully its privacy policy. Moreover, recheck whether privacy policy will expose private information or not. If you ignore such privacy policy, you might fall in victim of cyber criminals. By accessing private information on Smartphone, hackers can control your device, and can swipe your information or inject a malware or virus into your mobile device.
3. Look for HTTPS
When you enter any private information on the website, always check for URL that should initiate with HTTPS instead of HTTP. An extra “S” will help you to encrypting your online data during data transfer. HTTPS means the URL is equipped with SSL protocol that transfers your data such as banking information over the web in secure way through encryption.
4. Be careful when you click
At the time of clicking on any link whether it is in email, SMS, or social networking site, you should be very careful. Because it may happen that spammers can send fake links pretending to be a legitimate link coming from bank authority. Therefore, when you respond such links, it may happen that they may be redirected to a fake website page asking for personal details. In past years, many phishing activities related to social media sites and banking sites were came into focus where millions of login details were stolen from users.
5. Pay attention to pop-ups
While accessing any website, users find different pop-up, which may be of contact us form, software requirement, product advertisement, cookies, warning etc. So in spite of ignoring pop-ups especially while accessing mobile banking, you should pay attention to such pop ups to avoid potential threats.
6. Avoid using public networks
Be careful while accessing public network especially, when you are dealing with any banking site. Public networks are convenient but can cause security risks. Open public Wi-Fi is not secure for sharing sensitive data over the network. A person who is using public Wi-Fi never knows whether the network is legitimate or operating by cyber criminal. The aim of cyber criminal is to steal your confidential information and money.
7. Download Updates Regularly
When you download app on your Smartphone, it requires regular update to fix minor bugs or improve performance of app. If the app is not updated since last several months, it might be risky for you. When you update app, you will get protection against latest bugs and vulnerability and thus, can stop potential risk.
Besides the above top seven recommendations, few important precautions will also help you while accessing any banking website:
- Secure your bank account, mobile and SIM Card within strong password.
- Never reveal your password or account number on an unknown site.
- Keep Auto lock option in Mobile.
- Always log off completely after using a mobile banking site or application.
Conclusion:
Mobile banking concept is a popular way to carry out your financial transactions. It is true that with mobile banking technology, customers hardly visit a bank. Mobile banking offers a piece of mind to customers in completing banking tasks. From the above information, we can assume that security precautions are necessary while accessing mobile banking. Otherwise, users may fall in victim of cyber crime, so it is fine to take precautions before it is too late.
Derek Hitch is a web analyst and Internet Marketing Expert at ClickSSL.net, a SSL Provider firm. He is also interested in writing as well as sharing, web security and tech related stuffs to aware people. You can follow him on Google Plus.