As banks operating around the world are showing a lot of interest in offering services at fingertips to their customers, security experts suggest that most of these banking apps are insecure and not that capable to mitigate the evolving threats in the cyber landscape.
Although Cybersecurity Insiders hadn’t got an opportunity to audit all these apps and offer you a security report, it has come up with some tips on how to transact safely from mobile banking apps by keeping the data safe on a simultaneous note.
Maintain Secure Access- whether it is a banking app or an online banking webpage; always make sure that the logins and the data which are being entered is through secured web access i.e. HTTPS. Also, ensure that you are logging into the services only by using a secure internet like a 3G or 4G internet access than free public Wi-Fi.
Keep a tab on text & email alerts- Setting up email and text alerts are the best way to keep your banking account safe from falling prey to hackers. And nowadays, almost all banks are offering banking alerts to their customers to set up alerts for everything from cash/cheque debits to credit transfers.
Ensure multi-factor authentication- By including multi-factor authentication such as one time passwords( OTP)s or fingerprint or other biometrics, an additional layer of protection can be offered to a banking app which eventually prevents from getting easily hacked.
Keep your device updated with the latest security- Always ensure that your device gets all necessary security updates which help keep sensitive data exchange safe and secure. Also, go only for those banks which adhere to security practices such as security audits and penetration tests which increase mobile banking security levels.
Avoid all suspicious apps- Always download apps from a safe and secure platform and those which are being offered by the banks. Never, entertain apps which intercept data and seek sensitive info. If in case, the banking app is seeking sensitive info, do make sure that you call your bank to verify the details before you share. Also check for reviews, recommendations and security details before downloading any app on your phone.
Hope, all this knowledge share will help readers keep their banking transactions secure in the best way to avoid falling prey to identity thefts or to the malicious intentions of cyber crooks.