Convenience is the driving factor in the rise of mobile banking. It opens the doors to consumer choice and access to banking options. But, as mobile devices, like smart phones and tablets, become more popular, hackers are finding savvy ways to steal information. Be cautious when using mobile devices to do their banking.
Take a common sense approach to mobile banking. Follow a few simple steps to protect your information:
• Avoid storing sensitive information like passwords and social security numbers on your mobile device.
• Password protect your mobile device and lock it when you’re not using it.
• Be aware of your surroundings. Don’t type any sensitive information if others around you can see.
• Log out completely when you complete a mobile banking session.
• Protect your phone from viruses and malware just like you do for your computer by installing mobile security software.
• Download the updates for your phone and mobile apps.
• Use discretion when downloading apps.
• If you change your phone number or lose you mobile device, let your financial institution know right away.
• Monitor your accounts regularly and report suspicious activity to your financial institution immediately.
This article is provided in partnership with the American Bankers Association and Iowa Bankers Association for Iowa banks.