Mobile banking is a must in our digital world. Especially considering that 70 percent of people who are online are visiting websites from a handheld device. It’s important to answer your consumer’s needs with action. If you know your customers predominantly use their mobile phones for the service you provide, you want to make sure their experience is a positive one. That’s why our clients are offered a mobile bank and a responsive mobile website. If you are a part of the majority and bank online, there are some important rules to remember to ensure the security of your financial information.
As consumer use of mobile devices continues to climb, cyber criminals are targeting those gadgets more frequently. According to a report by the Federal Reserve, 52 percent of smartphone users say they have used mobile banking in the previous 12 months.
Here are 12 steps to protect your mobile device:
- Use the passcode lock on your smartphone and other devices.
- Log out completely when you finish a mobile banking session.
- Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software.
- Use caution when downloading apps. Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.”
- Download updates for your phone and mobile apps.
- Avoid storing sensitive information like passwords or a social security number on your mobile device.
- Tell your financial institution immediately if you change your phone number or lose your mobile device.
- Be aware of shoulder surfers. The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information.
- Wipe your mobile device before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.
- Beware of mobile phishing. Avoid opening links and attachments in emails and texts, especially from senders you don’t know. And be wary of ads (not from your security provider) claiming that your device is infected.
- Watch out for public Wi-Fi. Public connections aren’t very secure, so don’t perform banking transactions on a public network. If you need to access your account, try disabling the Wi-Fi and switching to your mobile network.
- Report any suspected fraud to your bank immediately.
- Security and banking go hand in hand and when you combine that with the convenience of mobile banking, your security needs to be top of mind.
“We use gold-standard safeguards to protect customer information, but it’s also important for users to keep safety measures in place on their end to prevent sensitive data from being compromised,” said Michael Poland, President/CEO.
For further security safeguards or for more information, contact your local bank.
Michael Poland is the President/CEO of Farmers State Bank. FSB has been a long-standing community bank headquartered in Cameron, Missouri with branch offices in Trenton, Tarkio, Mound City, Maitland, Fairfax and St. Joseph. FSB is FDIC Insured and an Equal Housing Lender.