Though technology is bringing convenience to our very fingertips, with it
also comes some associated risks such as theft of identity, which can be
used to steal money from your accounts.
Banking started with traditional physical
outposts, then moved to the faster, though
more non-personal, ATMs. From there, it was
not long before it adapted to the internet. The
evolution has now reached the hands of customers in the
form of mobile banking a true convergence of the need
for mobility and online nancial transactions.
Innovations in online nancial payments via mobile
phones are making the need to carry a wallet obsolete.
Though technology is bringing convenience to our very
ngertips, with it also comes some associated risks such
as theft of identity, which can be used to steal money
from your accounts.
Banks have already set up layers of data encryption
and other such security measures, but there are a few
steps that you, too, need to employ to safeguard your
interests.
Instill Security Habits in Yourself
1. Be creative when setting up mobile banking
passwords for your bank accounts, or passwords for
your pro les on shopping and other websites that
may include your payment information like a saved
credit card number. Do not use your date of birth,
the names of family members, dates of important
milestones in your life, or other such names or numbers that are signi cant to you. These can be
easily guessed or broken by a brute-force attack by
those who know you or nd out information about
you for identity theft.
Instead, opt for random alphanumeric constructions
with special characters that you can remember but
cannot be linked to you easily. This is a tougher
option as you have to keep track of these random
numbers, letters, and characters, and it might seem
easier to simply use information that is easy for you
to remember. However, choosing random words
and numbers is a safer bet as they will be almost
impossible to guess. Also, try to keep your passwords
longer than seven characters. This makes it harder to
crack. Be sure to change your passwords frequently
as well as vary them in type so no one can get used
to your pattern.
2. Do not save your passwords on any device, in either
written or audio formats, and especially not on
your mobile phone. Similarly, do not note down
your debit or credit card number, account number,
debit or credit card PINs, your usernames and
their passwords, and other such vital information.
Memorize them instead so that no one but you
knows what they are. Avoid sending any such
information to anyone via SMS or other texting
options. In case you lose your mobile, all the
information that you have stored in it will fall into
unsafe hands.
3. To make it harder for anyone to gain your personal or
nancial information, make it even more di cult for
them to even gain access to your device by setting
an unlock pattern or password on your phone.
Do Not Transact On Public Networks
1. Avoid making any nancial transactions while you
are connected to public hotspots or general Wi-Fi in
hotels, airports, cafes, or other such places. Public
networks are more prone to risks of data theft as
their encryption can be cracked easily by hackers or
crackers trying to access your account information.
2. Make all nancial transactions only when your
mobile is safely connected to your personal internet
connection that is passwords protected.
Check What Apps You Download or Install
1. When downloading or installing any app on your
mobile phone, even non- nancial ones, always make
sure that they are o cial and made by companies
or businesses you trust. Malicious apps or malwares
abound over the internet. These are made in a way as
to in ltrate iOS, Android, Windows, and other mobile
platform security. These apps record data from your
phone and transmit them to identity thieves who
can use the information to steal your money.
2. Download and use only those banking, shopping, or
gaming apps that are available in the o cial store of
your mobile platform (Google Play Store, App Store,
Windows Store, etc.). Such o cial apps store or send
out information that is encrypted and only to other
o cial channels so that your transactions are secure.
3. Avoid mobile applications that show a plethora of
advertisements videos or texts or images from
unwanted sources. Do not use important accounts
to access temporary apps or post any information
about yourself through them, as many of them do
not follow secure deletion process of user data post
uninstallation. Try to nd as much information about
an app to ensure that it is trustworthy before you
install it on your device.
Beware Of What Links You Click On
1. Do not fall prey to link baiting. Many websites, text
messages, and even emails invite you to click on
links that seems attractive or important. Never follow
such links as most are fake and lead to phishing sites
that can get past your mobile’s security features and
leach out your nancial and personal information
from your device in the background.
Phishing messages will be worded in a way that
scares you or entices you something like “We
noticed your bank account password was leaked;
log in through this link to reset” or “You have won a
lottery; click here to claim your prize” and they will
seem to come from legitimate sources. Be aware of
such scams and never give your banking or personal
information in any place other than o cial websites.
2. Always ensure that any website where you enter
nancial or personal information begins with “https”
and not “http,” and that the lock icon is present
on the address bar of your browser. An “https”
website means it uses Secure Sockets Layer for its
connection, which keeps your data safe and restricts the sharing of any transactional information to
between your phone and the server only. Regular
information or browsing can be done on “http” sites,
but refrain from any money transactions via websites
that are not “https” protected.
3. If you are a heavy social media surfer or user, do not
get too lax about what information you are sharing
via these channels. Do not click on posts from people
or sources you do not trust and, even then, do not
follow links that do not lead to reliable websites.
4. Do not give any nancial or personal information
such as account number, password, phone number,
address, credit card details, etc. if you get a call from
anyone claiming to be from your bank or some
such important institution. Unsolicited calls are a
well-known scam and it makes sense to hang up
as soon as possible as such calls not only try to get
your nancial or personal information for nefarious
purposes but also charge you very high rates on your
mobile bill and earn via that.
5. If you have apps that help identify spam numbers,
then make sure that they have o cial security
certi cates as many such apps that have access to
your phonebook are not secure enough to keep such
information from leaking to frauds.
Install a Trusted Antivirus/Anti-malware Program
1. While almost everyone installs an antivirus software
on desktops or laptops, it is equally important to
do so on mobile phones as well. Use a legitimate
and o cial antivirus or anti-malware that scan your
device regularly and keep itself updated to ght the
latest viruses, worms, and malwares.
2. Also keep your mobile’s operating system (OS)
updated to the latest version released o cially
by the company. This makes sure that all security
features of your OS are up-to- date and capable
to detecting and ghting o regular attempts by
malwares. Do not jailbreak your phones as this
tampers with the inbuilt and o cial security layers
of your OS and can make your device vulnerable to
data breaches. Clean your phone’s memory regularly
so that old data is removed and, with it, the chances
of stored nancial or personal information.
There is no reason to be scared of using your mobile
devices for making nancial transactions or for personal
work. With a few precautions, you can do this in a safe
and secure manner, without any stress of identity theft
even if your phone is lost or stolen. If you suspect any
irregular activity in your nancial account, always reach
out to the respective bank for help. They would be more
than happy to help you.
I'm using Kaspersky protection for a few years, and I would recommend this solution to you all.
ReplyDelete