Daily Dupaco

Friday, September 18, 2009

Is Mobile Banking Secure?

Regarding the security of mobile banking technology, an article written by Elinor Mills and published online by CNET News in February reported that transferring funds between accounts and viewing account balances and transactions generally poses little security risk.

However, Mills states that, according to experts, "things will change as more transaction functions are enabled on mobile devices."

"To safeguard against security risks, mobile users should use their device PIN codes, download mobile apps only from their financial institution, switch Bluetooth off when not in use, and avoid lending their phone to strangers to minimize the chance of someone downloading a malicious app onto the device," writes Mills.

Monitoring activity on all your accounts is also key to identifying potential fraud and protecting your accounts. If you notice any suspicious transactions on your account, report it to your financial institution immediately.

For more fraud protection guidelines from Dupaco, click here.

To read the complete CNET News article, click here.
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