Perhaps the biggest risk is also the reason why mobile banking is so popular -- mobile devices are easy to carry around everywhere we go. They can contain everything from passwords to contact lists to our calendar appointments. Information like that can be dangerous if your mobile device falls into the wrong hands.
Apart from tethering all your gadgets to your body or scrapping all electronics and turning into a luddite, there are a few things you can do to minimize your risk. If your device has a digital locking mechanism you should use it. Some devices require you to trace a pattern or insert a PIN. While it might slow you down to have to enter a PIN each time you want to use your phone, that layer of security might be enough to keep a thief from accessing your bank account before you can report your phone as missing.
Don't be scared off from using your mobile device to access your bank accounts. Just be sure to practice good, safe behaviors and keep track of your gadgets. With a little common sense and attention, mobile banking can be both convenient and secure.
Learn more about banking and technology by following the links below.
More Great Links
- Bell, Claes. "Safety a key issue for mobile banking." Bankrate.com. Sept. 28, 2011. (Oct. 5, 2011) http://www.bankrate.com/financing/banking/safety-a-key-issue-for-mobile-banking/
- Mills, Elinor. "Mobile banking: Safe, at least for now." CNET. Feb. 15, 2009. (Oct. 4, 2011) http://news.cnet.com/8301-1009_3-10164244-83.html
- Moretto, Brenda. "Guide to Safe Online and Mobile Banking." McAfee. Oct. 5, . (Oct. 6, 2011) http://blogs.mcafee.com/consumer/guide-to-safe-online-and-mobile-banking
- Rapport, Marc. "Mobile Banking Security: New Problems and Old Face Emerging Channel." Credit Union Times. Sept. 15, 2010. (Oct. 4, 2011) http://www.cutimes.com/2010/09/15/mobile-banking-security-new-problems-and-old-face-emerging-channel
- Siciliano, Robert. "Mobile Banking More Secure Than Computer E-Commerce?" examiner.com. Aug. 10, 2011. (Oct. 4, 2011) http://www.examiner.com/information-security-in-boston/mobile-banking-more-secure-than-computer-e-commerce
- Wang, Jim. "Mobile Banking Safety & Security Tips." Bargaineering. June 12, 2009. (Oct. 4, 2011) http://www.bargaineering.com/articles/mobile-banking-safety-security-tips.html
- Zoldi, Scott. "Mobile banking fraud: Vulnerabilities of mobile devices." ComputerWorld. Aug. 10, 2011. (Oct. 6, 2011) http://www.computerworld.com.sg/tech/security/blog-mobile-banking-fraud-vulnerabilities-of-mobile-devices/
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