In the age of mobile banking one must protect their personal information more than ever. With increased freedom to carry online banking activities anytime and anywhere including on a laptop, desktop computer, tablet or smartphone, so comes an increase in the need to protect online privacy.
We’re fortunate that a bank deposit, withdrawal, account transfer, balance inquiry, and even the ability to scan and transfer checks can be made from the privacy of your home at 10 PM, from an airport while traveling, or from a café via a simple SMS text with your bank or an automated command using a mobile application. However, there are still plenty of dangers to mobile banking and one is still held responsible for their own protection from threats like device loss, phishing, malware/viruses, spyware programs, and even financial fraud.
When managing mobile banking transactions, here are the five most common threats you need to protect yourself from: