Among the many benefits smartphones bring into our lives, mobile banking is one of the more important ones. It gives us the convenience of banking on the go and keeping our finances in check with a few screen taps. The world of finance is transforming, and smart devices deserve a lot of credit for that. Unfortunately, this has also created some potential risks that can’t be ignored. And yet, many people remain uneducated about the appropriate ways to use their devices securely.
Before you commit to making mobile banking a regular part of your life, you should get to know how the system works and what you can expect while using it. Various potential security risks will come up along the way, but you can avoid them by keeping a few things in mind.
Keep Your Device Up to Date
One common problem, which may be the root cause of many security issues, is the fact that people are careless about keeping their devices up to date. That includes both the operating system and any apps you may use on a regular basis.
With Android, it’s important to ensure that you don’t skip any system updates. Attackers often target the Android platform, so delaying a security update by as little as one month can become a grave mistake.
Avoid Untrusted Networks
Pay attention to the networks you use to surf the Internet too, especially when it comes to doing any online banking. Checking your balance while you’re drinking your morning coffee at Starbucks might seem convenient. But make sure that you’re not overpaying for that convenience, for example, by having your bank accounts compromised.
This can even include random Wi-Fi networks at people’s houses when you’re visiting someone. You never know who’s listening in on your connection and what their intentions may be.
Use a VPN
If you can’t avoid using an unsecured network, but you still have to get some banking tasks done, a VPN can be a good compromise, click here to check it out. It should prevent the majority of the potential security issues. The way a VPN works is by rerouting your connection through a different location. It can be anywhere in the world – even in a completely different continent. On top of that, it encrypts your connection with powerful security protocols.
A VPN might not prevent every single type of security issue that you face. But it can still go a long way in ensuring that you aren’t at risk of having your account details compromised by someone snooping in on the connection. It can even protect you from some issues that may arise from the use of outdated apps, although, of course, don’t count on it for that.
Be Wary of Scams
Most popular email providers are quite good at catching spam and suspicious messages. However, some might still reach your inbox now and then, so you should pay close attention to the small details. Your bank would never ask you to “confirm” your password over email, phone, or any other form of communication. If anyone claiming to work for the institution asks you for your login details, you can immediately assume it’s a scam.
The same goes for any messages claiming that there’s a problem with your account and you need to go online to fix it. The link usually leads to a phishing site that looks identical to the legitimate website of your bank but is designed to steal your credentials.
If you want to be sure that there is nothing wrong with your account upon receiving a message like this, go to the bank’s website and log in manually. That is, don’t follow any links from the email, but type in the bank’s website address yourself. That way, you’ll know you’re logging in at the right place. If no security alerts pop up once you’ve logged in there, you can safely ignore the message.
Mobile banking can add a lot of convenience to our life, solving many problems people face nowadays due to their busy schedules. However, it should be approached with caution, as it also has the potential to make our lives very difficult. As with any advanced technology, it’s all a matter of how familiar you are with it, and how much common sense you use in your work.