Are You Savvy About Safe Mobile Banking?

March 28, 2013

Family caregivers are on the look out for tips and tricks that can maximize their efficiency when tackling tasks such as banking chores and  a smartphone or notebook computer are common tools used to manage and monitor finances conveniently.  And while having the ability to monitor aging parents’ accounts is an excellent method to ward against banking fraud, consumers must take steps to protect personal account information for safe mobile banking.

The FDIC published Tips for Safe Mobile Banking, and we think these tips are helpful for many aspects of our technology-oriented world.  Please take a moment and evaluate your personal security risks and vulnerability.  Also, don’t forget to check in with your senior loved ones and help them review their passwords and security settings.  It’s time to delete “password” from your password lexicon!

Safe Mobile Banking Tips.

Safe mobile banking practices are important to personal security

Create a “strong” password.

Using 1234 for your PIN just doesn’t provide thoughtful security.  Create password options that have a variety and combination  of upper and lower-case letters, numbers and symbols.  Most scam artists are keen on the fact that you may use your four-digit house number for a PIN.  Get creative and change that PIN or password periodically.

Don’t use an unsecured Wi-Fi network.

It’s so convenient to plop down in a comfy couch at your local coffee shop, but fraud artists may be trolling the area for information that you may be submitting or viewing via those public Wi-Fi sites.

Have a back up plan in the event of a lost or stolen device.

Know how to remotely erase content or inactivate your device or account before you lose your phone.  Immediately notify your banking institution if you have lost your phone so that unauthorized transactions can be thwarted.

Use caution when downloading that great banking app.

Is the application sanctioned by your banking institution?  Just because it has your bank’s name doesn’t mean that your bank released the app.  This could be a scammers attempt to gain entry to your accounts.  Confirm apps on your banks’ official website.

Don’t verify confidential information via e-mail or text.

Often, an “urgent message” about your account is a scammers attempt to secure confidential data.  Confirm issues with your financial center and do not give out secure information via email or a text.  Your bank has your financial information and shouldn’t need you to confirm the details.

Finally, never write your PIN or password down in a location that it can be found and accessed by an unauthorized user and take advantage of your “lock-out” features on your mobile devices in the event that you leave your gadget unattended for a short period.  Our techno world can make our daily chores a bit easier, but security measures are a must!

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