Have safe online transactions by installing an authorized banking app with great app previews and use a secured internet connection to overcome the cyber attack.
Generation X, as we are called has had a strong impact on the society. From changing lifestyles to redefining traditions to the latest technology, we have left no sphere of life uninfluenced. Digital revolution with which we are associated has brought near about tumult in every individual’s life. There have been many revolutionary innovations which have changed the way we perceive, understand, or appreciate our society or surroundings. Mobile phones, which later mutated to Smartphones, have been a harbinger of unimaginable services at our fingertips.
Mobile Banking is one such convenient service offered by Smartphones. Though the mobile applications are highly efficient and innovative, however, they are fraught with many security risks. Banks and security organisations are at work without pause to alleviate the risk factors involved but the desired goals remain elusive. We have been watching the security trends over the years and would like to share few safety steps that can keep your money safe.
Downloading third-party applications outside of your mobile app store is definitely a risky decision. This can make your mobile phone vulnerable. Always check the app in the App store for an indigenous solution created by the mobile application development company. With this, your personal data will be limited to their backend user interface. Using the company's mobile app is a more secure method than browsing through websites via Safari or Google.
Downloading an app from the mobile App store is not sufficient; you need to check the genuineness of mobile app developers. There can be a rare occurrence of a third party app which is not exactly affiliated with your App store. Before downloading any app, check the reviews and ratings. More star ratings mean more reliability, but to be doubly sure read the reviews as well.
Most of us have the password protection feature on our Smartphones. Apart from saving your personal information from anybody who is snooping around, this feature will be a life saver in case your phone is lost or stolen. We are always on a move these days and most of our transactions are done through mobile applications. Accidents do happen when we lose our phones. So password protection will refrain the fraudster to have direct access to your bank account or shopping carts.
Everyone likes to be connected to their near and dear ones, and if it comes free of cost, one does not give it a second thought. We are not saying that staying in touch is bad but not at the cost of your safety. One of the easiest ways to hack passwords is through public wifi. Any data transfer from a connection other than the private network is less guarded, especially when various devices are accessing the same bandwidth. Transferring data through hotspots is not a good and safe idea.
Though most of the app developers have launched their mobile applications for the convenience of the customer, there are few situations where one has to login to the mobile application development company's website for a transaction. While surfing the website, check that the connection is secured, that is, it is an HTTPS website. This ensures that the data encryption is one-to-one. All the online payments are secured and you will notice that they are HTTPS websites. Double check the padlock icon before making any financial transaction.
When in doubt, always go with your gut instinct. If you feel that your password was compromised, do not hesitate to change it and check your suspicious activity report.
Mobile banking is not the sole reason of banking frauds, but it’s better to be extra cautious. Regularly check for any money transfers or withdrawals which you did not authorise. Also, check for any login from a different device. The convenience and fluidity of mobile transactions makes it the most sought-after platform. With better and simple apps, threats have also increased. The user needs to be more vigilant to make safer and wiser choice.
Stories by vaughn paul