As mobile smart devices such as tablets and phones take over larger and larger chunks of the market, businesses are constantly looking for new ways to make transactions easier with the use of these devices.
In fact, during my recent trip to a local county fair, there were multiple tablets and mobile stations set up to receive payments from customers. It was so cool to see entrepreneurs running their own business and adapting to the modern world.
Beware of Mobile Banking Weaknesses
The most prominent developments in this field come from banks, which have made mobile banking prominent in many of their transactions. Whether it’s NFC or the use of apps for transferring money, or exclusively using online banking to pay your bills, banking has truly made the transition into the mobile world.
As this form of banking develops and becomes more prominent, more malware developers aim to take advantage of those using the programs by creating software that leaks our personal details.
As an early adopter of mobile technology and online tools, I’m still concerned about my phone being stolen, and my information hacked into. It may be time to worry about what’s inside the phone too, instead of outside it.
Verify Mobile Apps and Downloads
Given the Apple verification needed when an app enters the iStore, there is a certain level of protection from fraudulent apps set to steal your information. Unfortunately for Android users, this safety is not so guaranteed in their market.
Due to the nature of the open market — which is fantastic for those looking to make their apps available for everyone — fraudulent apps can be prominent within the marketplace, and it’s through these tactics that many attackers will infiltrate our devices.
Whether it’s financial information or tracking phone calls, these apps are able to leak information from your phone. And while Google is doing what it can to rectify this, more are being created every day.
Mobile protection tips by security experts advise that by checking the app you’re downloading is the official app of the website — especially when it comes to mobile banking — you’re reducing the risk of fraud greatly.
Most times, when you access the website of the bank on your phone will offer the app for download, which makes the transition much more safe and secure.
Install Anti-Virus Software
Beyond the app itself, there is always a chance that a virus could attack the phone. Whether it’s through the innocent opening of a dodgy link in an email, or by leaving Bluetooth switched on in an untrustworthy place, viruses can attack mobile devices as much as they can PCs.
Anti-virus software is available for smartphones, and often protects across multiple devices. Due to the nature of cloud software — which many PCs, mobile and tablets now use — this kind of software will help protect every aspect of your mobile online banking transactions.
How do you protect your info when using mobile banking?