Mobile Banking Security Tips
Boston Private takes great care to safeguard the security of your non-public personal information.
As more people use their smartphones to manage bank accounts, new potential security risks arise. Through the security of your mobile device and the security practices you adopt for mobile banking, you can help mitigate the risk of online fraud, identity theft and protect your confidential information. The following are security tips and best practices to keep in mind when accessing your online banking account via a mobile device.
PASSWORD-PROTECT AND AUTO-LOCK YOUR PHONE
In addition to the Online Banking application, your mobile device itself should be protected with a password to ensure that no one but you will be able to access your accounts. It is also recommended that you set your phone to auto-lock after a set number of minutes.
AVOID STORING CONFIDENTIAL INFORMATION ON YOUR MOBILE DEVICE
Be cautious about what information you store on your mobile device. Saving your passwords on the device is not recommended. Regularly delete text messages and old calendar entries, clear your browser history, and delete files from your phone. In addition, be sure to clear sensitive information prior to disposing of, recycling, selling or giving away your mobile device.
Text messages are not secure and may be intercepted, which is why you should never send personal, identifying, or confidential information via text message.
MOBILE DEVICE PERFORMANCE
If you download an app and your phone starts performing differently (e.g., responding more slowly to commands or draining its battery more quickly), it could be a sign of malicious code, and it is probably best to take your device to your carrier.
REVIEW AND UTILIZE THE SECURITY OPTIONS AVAILABLE ON YOUR DEVICE
Consider additional measures such as security software and antivirus solutions. Refer to your phone’s user manual or contact your mobile carrier for more information on these features. Also, be sure to check for and download available software updates regularly on your phone, as these updates may include fixes to any security flaws.
PUBLIC WI-FI AND BLUETOOTH CONNECTION
Do not connect to unsecured Wi-Fi when accessing Online Banking from your mobile device. Most smartphones and tablets can use both wireless Internet and a mobile provider’s cellular network. Avoid using Bluetooth in public places to prevent attackers from taking advantage of that connection by obtaining information, or downloading malicious code to your mobile device.
LOG OUT COMPLETELY
Be sure to log out completely every time you finish a mobile banking session. This will prevent someone from having easy access to your information if they get hold of your phone/mobile device.
INFORM YOUR SERVICE PROVIDER IF YOUR MOBILE DEVICE IS LOST OR STOLEN
If your phone is lost or stolen, notify your service provider immediately so they can disable your device and reduce the risk of information being accessed. You may also want to consider logging into Online Banking from a computer to change your password for additional security of your data. Some mobile devices allow you to remotely wipe your personal data and restore your device to its factory state. Find out if your device has this option, and write down the steps for remotely wiping your device in case it’s ever lost or stolen.