Banking has evolved as a result of online banking and banking applications. These modes are enough for the majority of our banking needs.
Online banking is advantageous but it may also be harmful if basic security precautions are not taken since even a tiny error might result in monetary loss.
Here are some easy guidelines to remember when utilising mobile banking apps.
Ensure you only download banking apps from authorised app shops, such as the Google Play Store or the Apple App Store.
Never download banking apps from links received via SMS, email or any similar platform. Phishing scams often take place via emails and SMSs.
Never install banking applications from links sent to you over SMS, email, or another comparable medium. These emails and SMSs are frequently used in phishing scams.
Utilise two-factor authentication (2FA) to increase security. This guarantees that you will be notified if someone attempts to hack into your account.
Make sure that all of your banking apps are set to PIN or biometric authentication.
In the event that your phone ends up in the wrong hands, this will guarantee that no fraudulent transaction occurs.
Having secure passwords is essential. Make sure your password is complicated and includes letters, numbers, and symbols in both upper- and lowercase.
Additionally, it is advised that users change their passwords frequently, as this protects them in the event that their password has been compromised in a data breach.
If you lose your phone, call your bank right away. Ensure that the mobile banking app is disabled and that no transactions are permitted through it.
Never conduct online banking or utilise banking apps on unsecured networks.
Due to the vulnerability of public Wi-Fi networks to hacking. While using public Wi-Fi, you run the risk of disclosing your vital banking information.
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