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How to avoid virtual theft: mobile security and banking

Sept. 30, 2013
Credit Cards
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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 a hacker phishes, they trick someone into providing private information. In the past, hackers would often phish over e-mail, but these days, more and more, they do so over text message, often posing as a bank. Meanwhile, spoofing is a fake website drawn up to appear like an official bank; 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

Watch out for outside networks. As stated earlier, you should be mindful of any network outside of your home, including public Wi-Fi hotspots when you are 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.