CONSUMER AFFAIRS: Safer mobile banking

2013-03-29T09:10:00Z 2013-03-29T19:10:07Z CONSUMER AFFAIRS: Safer mobile bankingJoseph Pellicciotti Times Business Columnist
March 29, 2013 9:10 am  • 

The latest issue of the Federal Deposit Insurance Corp.’s FDIC Consumer News offers consumers tips for safer mobile banking.

The FDIC urges consumers to be proactive and create strong passwords or pins and periodically change them. Don’t write down or give passwords or pins to others. Also, ensure that any “time-out” or “auto-lock” features on devices are enabled.

Do not use an unsecured Wi-Fi network for mobile banking. As the agency notes, fraud artists might be able to access the information you are transmitting or viewing.

Sensitive account or other personal and financial information should not be sent by email or text message because those are not necessarily secure.

It is a good idea, the agency notes, to check with a wireless provider in advance to find out about features that enable you to remotely erase content or turn off access to your device or account if your mobile device is stolen or lost.

The agency urges consumers to notify their banks right away if devices are lost or stolen.

Research any applications before download. Make sure that an app is official, not fraudulent. If available, provide different passwords to protect financial apps.

Also, be on the alert for unsolicited text or email messages appearing to link to a financial institution’s Web site. Avoid phishing messages designed to lead you to fake websites or otherwise steal personal data.

For additional information, go to (click “Consumer News – Winter 2013”).

Opinions are solely the writer's. Joseph Pellicciotti is an I.U. Northwest faculty member and administrator. The article is for informational purposes only and not intended as specific advice. Consult your professional advisor before taking action. Author does not endorse/guarantee content within websites.

Copyright 2014 All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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