10 Tips to Secure Online Banking

Online banking or mobile banking reduces expenses by allowing customers to review transactions, transfer funds, pay bills and check balances without having to walk into a bank branch or make phone calls to a bank’s customer service call center.

Mobile banking, m-banking or SMS banking refers to online banking that occurs via mobile phone or smartphone rather than with a PC. The earliest mobile banking services were offered over SMS, but with the introduction of smartphones and Apple iOS, mobile banking is being offered primarily through applications as opposed to over text messages or a mobile browser.

As convenient as this is, you still need to consider security.

  1. Set a passlock that times out in one minute to access your mobile.
  2. Set your computer’s and mobile’s operating systems to automatically update critical security patches.
  3. Make sure your PC’s firewall is turned on and protecting two-way traffic.
  4. Always run antivirus software on your PC and mobile, and set it to update virus definitions automatically.
  5. Run a protected wireless network. Don’t bank with your mobile on a public Wi-Fi network. Use a free service such as Hotspot Shield VPN.
  6. Never click on links within the body of an email. Instead, go to your favorites menu or type familiar addresses into the address bar.
  7. Beware of SMiShing, which is like phishing but in the form of malicious text messages instead.
  8. Download your bank’s mobile application so you can be sure you are visiting the real bank every time and not a copycat site. Do not check the box offering to remember your login information.
  9. Check your online bank statements frequently.

10. Use strong passwords with numbers and uppercase/lowercase letters and characters.

Robert Siciliano, is a personal security expert contributor to Just Ask Gemalto and author of 99 Things You Wish You Knew Before Your Mobile was Hacked! . Disclosures