In the past, when we want to make a banking transaction, we had to go to directly to the bank. Later computer Internet banking was introduced to make the bank transactions easier without having to leave your home. Now it is mobile banking which you can easily do through your smartphone anywhere and anytime. But one major concern of mobile banking is its safety.
In the period of hackers, it becomes necessary for us to secure our mobile device from malware attacks otherwise our money and other important information could be stolen. So with the help of information from jumia portal, I have compiled below 5 security tips that you can use to protect your mobile banking.
1. Always Lock Your Device
Passwords are essential to mobile banking. Hence, you should always make sure that your phone is secured with a password or pin lock. This also includes locking individual apps you use for banking. There are numerous third-party security apps available on the Google Play Store that you can use to lock individual apps. You need to keep your device locked, just as you would your front door to prevent intruders from gaining unauthorized access. This is very useful especially when you accidently misplaced your phone.
2. Regularly Update Your Mobile Banking Apps
There’s a reason why app developers constantly provides update. Most of the time is to make bug fixes in order to patch up holes that hackers can exploit. So it make sense to regularly update your mobile banking apps to keep it safe and secured.
3. Avoid Unsecured Wi-Fi
Wi-Fi has been around for some time now and it has proven to be one of the most beneficial inventions in the last decade. With it you can get easy access the web anywhere or any place. But that is exactly where the problem lies – anyone can walk into that place and get on the same network you’re using. A hacker nearby with a piece of software that searches for data being transferred on a Wi-Fi network can intercept your unencrypted data. So always avoid using public Wi-Fi networks for mobile transactions. Using an unsecured Wi-Fi is an easy and sure way to invite hackers to intercept your money or steal your account information. Alternatively, it is better to use your mobile data. Also, make sure your phone doesn’t automatically connect to Wi-Fi networks when in their range. Always keep Wi-Fi switched off when it’s not required.
4.
Beware of Counterfeit Apps
There are many fake apps in the Internet, even in trusted sites like Google Play store or Apple play store. So you need to be careful of what you download. Do some research to see if the apps you want to download is the original. Also check out the ratings and reviews of an app, as well as, the privacy policy. Also, take a detailed look at what permissions and rights you are granting to an app you are about to download and install on your phone.
5. Install a Mobile Antivirus App
Have a security app (from a trusted source, of course) installed on your device and constantly scan at least once a week to check for any malware. Antivirus apos, such as, Avast, Norton, 360 are often free to download from app stores, and there can be extra benefits as well.
Conclusion
There are many ways to secure your phone from hackers trying to gain access to your bank account. Still, you constantly need to be vigilant as hackers are getting more and more ingenious and sophisticated everyday.
Personally, I will recommend that you should not use large cash to do online banking transactions, but rather use small amounts of money. Don't keep the bulk of your money in the account you do online transactions or in an account where you own an atm card. Always have two bank accounts, one reserved for bulk cash while the other account for atm purpose or online stuffs.
For more information on how to protect your device from malware attacks, follow the link below.
https://andronicles.blogspot.com.ng/2017/04/how-you-can-protect-your-android.html?m=1
Hope this information is helpful. Feel free comment below.
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