Six Main Rules Of Safe Mobile Banking. Where, When And How?
We at Jammer-Store suppose that this topic is rather important, because mobile banking grows, its is really convenient and many users join those mobile banking programs every day. But you have to be really careful, because that's the place, where evildoers have a chance to earn lots of money very quickly. First of all we'd like to mention that all the written here can be said about tablets too, not only smartphones.
1. Avoid using mobile banking apps on your smartphone!
Here we are talking about special apps, that banks create for their users. Yes, they are convenient and user friendly, but, there are a couple of problems with those apps, you should be aware of. First of all it is definitely unknown, who exactly has written and tested that app. Also, it is not known, if the bank had tested that app at all, or they have simply decided to publish it, and fix bugs and vulnerabilities in the updates. And you should understand that it it far easier to loose your phone, or someone may steal it and even hack, modern smartphones are vulnerable to various hacks and exploits.
2. Avoid using mobile banking on routed, or jailbroken smartphone!
Many people route or jailbreak their smartphones in order to get additional benefits, Android users gain more privileges in the OS, they can install custom versions of the OS and many other things. And the owners of jailbroken devices are able to install software from third parties, not only from AppStore. And here hides the main vulnerability.
Those additional privileges are granted not only for a user, but for all the apps he runs. So, to protect your bank account and a smartphone from modern wireless threats, it is better to avoid jailbreak or routing your phone.
3. Do not use an app for mobile banking on the same phone, if you've installed it from a third party vendor!
Android and iOS, allow to install apps only from their appstores, GooglePlay and AppStore by default. But many people try to install applications from third parties, because they are free there. If you see a free version of the app, that should not be free – it is always better to avoid that, because in 99% you will get a virus. The sames goes for mobile, or Internet banking apps.
4. Never use the same smartphone for an app, and for SMS passwords!
Here you should understand that modern concept of a remote access is always connected with two-factor identification. The basis here is really simple. Website uses two factors to determine who you are, first is the login-password combination and the second one is the thing, that belongs to you. It may be a USB trinket with a specific key, or, when it comes to mobile banking – a combination, that is sent directly to your cell phone.
In that case we will have both those factors on our smartphone, that may be vulnerable, that's why we may tell you to remember that mobile app for banking has to be on one device and all the SMS from banks have to com to another device.
5. Never use free public Wi-Fi hotspots!
Here we are talking about public hotspots situated in restaurants, hotels, airports. All the data comes to a router without wires and can be intercepted by literary anyone. Wi-Fi networks are vulnerable and you should remember that, while using them. So, if someone will be able to crack WEP or WPA2 encryption – he'll surely gain access to your bank account.
6. Use mobile anti-virus apps!
Many people have serious doubts about that, they say that antimalware apps simply drain the battery and do nothing useful, but we can tell you that they may provide at least partial protection from trojan apps that steal personal data and may give some clues for a hacker. And most of them are totally free.
Always keep in mind that your security is up to you and your main power against hackers of any kind is your knowledge and your caution. Always keep an eye for the wireless connection of your smartphone, and if you'll notice something suspicious – turn of the phone, or use a mobile phone blocker and contact your bank to temporary block your account, that may save some of your money for some time.