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How To Avoid Mobile Banking Fraud

AS the number of mobile phone users grows, Mobile Banking is getting a wider acceptance due to its convenience. However, it comes with its own share of risks. It is therefore important to be aware of the safeguards to enhance the security of your transactions.

Given below are some tips to ensure the safety of Mobile Banking:

• Use the phone lock function with a password which is difficult to crack. The password should be a combination of letters, numbers and symbols.

• Never disclose any personal information (like account number, date of birth, PAN number, debit card PIN) via text message. This could lead to identity theft.

• Update your mobile phone with the latest version of a reliable antivirus software regularly.

• Remember to delete all personal details from your phone before allowing anyone else to use it.

• Download files only from a trusted source. Make sure that Bluetooth is switched off when the phone is not in use, to avoid transmission of viruses.

• Mobile phones should be configured with a secure web browser and e-mail software. Use the ‘Help’ function of the software or the vendor’s website for configuration.
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