Mobile banking and finance apps have become increasingly popular in recent years. These apps provide a quick and convenient way to check and view Savings account Balance and payment made and received.
It is no wonder that so many people use this Third party apps To manage their finances. In 2021, the United States saw 573.1 million finance app downloads19% increase over the previous year.
However, despite its advantages, mobile banking is not free from risk. This article will discuss the security and safety of mobile finance apps and give you a few pointers to protect yourself while using these apps.
Is Mobile banking is secure?
Yes, mobile banking is a safe way to manage your finances; However, there may still be some risks associated with it, including fraud Scandalous.
If you’re careful, there are plenty of ways to protect yourself when using this incredibly simple banking system.
6 tips to improve mobile finance app security
Here are some tips to help you improve the security of your online financial accounts
Make sure you are downloading the official app
A Bank website Often their mobile app will include links that provide related mobiles Banking services, With details about the app’s features and how users can use it. You should use a trusted platform when installing the app, e.g. App Store For IPhone Or iOS For users or the Google Play Store Android Users
You should take the time to go through the reviews and related information before downloading it to confirm the validity of the app. If you have any doubts, clarify the problem with your bank before downloading Fake banking app.
Set a Strong secret mantra
While this may seem obvious, the reality is that many people do not pay enough attention to their passwords. A Strong secret mantraYou should use a combination of uppercase and lowercase letters, numbers, and special characters, not in a specific order or pattern.
Also, Security experts Recommend speeding up the time it takes to crack long, complex passwords. It also helps to keep a unique password for each of your accounts
If you’re worried about remembering and managing multiple passwords, you can use a reputable and secure password manager. McAfee True Key To save your password.
Use Two factor authentication When possible
Many services nowadays offer two-factor or Multifactor authentication. This function refers to the extra layers of protection Hacker. On top of a traditional username-password login, users must identify themselves with a code sent to them. Mobile phone Or email.
By ensuring the identity of the user in this way, the companies remove some of the uncertainty. Although it is not stupid, two-factor or Multifactor authentication Helps increase security. It is worth checking if your finance app offers this feature.
To avoid Public Wi-Fi When using the finance app
Public Wi-Fi network Convenient in emergency situations; However, they often bring a warning that the network is insecure. This means that the network is not encrypted, making it easier Hacker To access your personal information. The best practice is to avoid use Public Wi-Fi networkEspecially when any kind of financial transaction is done.
If you have to shop or send and receive money on the go, you may want to consider a virtual private network (VPN) Like McAfee Secure VPN. The VPN It also provides a secure network when used Public Wi-Fi Hides your IP address and encrypts your data.
Receive email / text alerts for potential fraud
The easiest way to protect your finances is to keep a close eye on all your transactions. However, security notifications from your bank are a great addition. Most credit card companies allow you to turn on transaction alerts for a variety of services, such as balance transfer requests, international purchases and crossing credit limits, which can help you identify anything Suspicious activity To your account.
It is also important to remember Financial institutions Never contact you by phone or email to ask you questions Submission Information. If you get such a message, it is definitely a Scandal. A common way for people to be deceived is to claim by call or email that they have won a prize and have to share their personal account details in order to receive money. Never share yours Bank account Details, passwords, or one-time codes with strangers.
Always check with your bank for any activity that seems out of the ordinary In addition to warning notices, banks may also send helpful tips to protect your account against fraud.
Use McAfee Security for mobile
McAfee Security for Mobile Is an award winner Cyber ​​security Tools that help solve the above and many more. This will scan your device MalwareSuspicious websites, and insecure Wi-Fi network So you can use Social media Or shop online with complete peace of mind.
It comes with other features, such as a system cleaning service that cleans garbage from your phone’s storage. These features can extend battery life and help you detect if your phone is stolen or in the wrong place.
Is Mobile banking apps As safe as that Online banking?
Mobile and Online banking Both have their advantages and disadvantages, but which is the safer option? Experts often have different opinions on this subject.
Some people believe that it can be easy to download Malware Unknowingly on the computer, because it is difficult to judge the authenticity of a website or malicious link. Users usually download apps from celebrities App Store When using Mobile deviceWhich reduces the risk.
On the other hand, professionals believe that both methods are equally safe. The choice depends on the network available to the user, as private networks are significantly less susceptible to hacking than public networks. Some users may prefer computers Mobile phones Simply because they find it easy to perform tasks on a big screen.
See how McAfee Security for Mobile protects your device
Internet and mobile banking are both convenient and offer a quick way to manage your personal money, as you do not have to go to any physical bank or carry large amount of cash in your wallet.
However, although mobile banking is generally considered to be one of the safest ways to manage your finances, there may be some. Weakness That Scammer May try to take advantage.
Follow the tips above – such as using a personal network, not sharing personal details with anyone, and using a comprehensive mobile security tool. McAfee Security for Mobile – Can make all the difference.
Of the tool Security features Safe browsing included, a safe VPNAnd Antivirus Software. This means you can use your mobile finance app with confidence knowing that McAfee is looking for you.
