Archives - Mobile Banking

Conduct periodic security audits of financial apps

Given their importance and propensity to cyberthreats, take stock of your financial apps by conducting regular audits. Specifically, review permissions and access, keep all software up-to-date, encrypt all data, be on the lookout for suspicious activity, ensure a backup is in place and test account recovery. Here’s a checklist for a comprehensive financial app security […]

Keep a close eye on your financial statements

Stay vigilant against potential financial fraud by frequently reviewing your bank and credit card records. Look out for any unauthorized transactions or suspicious activity — irrespective of how major or minor any given transaction may be. Reporting any discrepancies promptly can help mitigate the impact of identity theft or unauthorized access to your accounts.

Avoid storing your credit card information on websites.

Many websites propose to store your card details for future transactions. While this offers convenience, it also carries a certain level of risk. In the event of a security breach, your card information could potentially be stolen and misused for fraudulent purchases. An alternative to this would be to manually input your card details with […]

Avoid using debit cards for online transactions

While debit cards might seem like a great substitute for credit cards, given that they don’t accumulate interest-bearing debt, they might pose a higher risk in the event of compromise. This is due to the fact that unauthorized access might directly affect your funds, and the options for resolving such issues are limited. For online […]

Leverage digital payment platforms such as Apple Pay, Google Pay, and Samsung Pay

Despite their current limited online acceptance, their footprint in brick-and-mortar retail is expanding. These services offer enhanced security as they replace your actual card number with a device-specific identifier. Any retailer displaying the logo of these services typically accepts all three, so feel free to use them if your device is set up accordingly. Moreover, […]

Use a mobile banking app for account management

This recommendation isn’t merely for convenience, but significantly for security. Official banking apps are usually the safest platforms for receiving activity alerts, viewing statements, and confirming login attempts via 2-factor authentication. Such apps also minimize the chance of falling prey to fraudulent emails masquerading as your bank, intent on pilfering your information. Furthermore, these apps […]