With all the mobile devices out there, how can you ensure that your banking transactions are secure? In truth, there's no entirely foolproof way to protect your mobile transactions, but there are some steps you can take to maximize security.
Beware of phishing and spoofing
The first thing you should be aware of is phishing and spoofing. When hackers go phishing, they trick someone into providing private information. In the past, hackers would often phish over email, but these days, more and more, they do so over text message, often posing as a bank. Meanwhile, spoofing involves setting up a fake website created to appear like that of an official bank, but it's intended for the same purpose as phishing: to capture your private information.
Never follow a link from one of those text messages or enter personal financial information online -- only do so when you access your bank's website directly. And always keep up to date on online privacy news and statistics; hackers shift tactics as we move from one form of technology to the next.
Avoid public networks
You should be mindful of any network outside your home, including public Wi-Fi hotspots, when you're on the go. Cellular networks are safer.
The most obvious thing you can do to ensure your security is to have an emergency lock on your phone and never let it out of your sight. Generally, it's best to do your transactions in private. Always check your bank account at home and avoid making any transactions on your mobile device when possible.