Every year, millions of dollars are stolen through identity theft and other forms of fraud in the United States. This begs the question: Is your mobile app safe? The short answer is “yes.” But, let’s discuss why we feel so confident with this answer.
Safety and Security of Your Information A mobile app provides a financial institution/credit union with much better control over the security and connection with its customers/members. Because the mobile app was built specifically for a particular financial institution, it follows the legal requirements of having a secure connection and a two-factor authentication. That means that if someone gets a hold of your phone, he/she cannot access your information easily because even if he/she has your user name and password, there is still another layer of authentication required for account access.
Remote Reset Another bonus to using a mobile app is that your phone or tablet may be able to be reset from a remote location. So, if someone steals your phone, you can clear your data and apps remotely, eliminating any access your accounts. This is something you will want to look into when you purchase your phone, or if you are planning to update your data plan.
Access Only If You Allow It One of the only ways a thief can access information on your phone is if you allow it. Let’s say you get a text message saying you just won a cruise to the Bahamas, and all you have to do is text this number and answer some questions. What is really happening is you are providing the thief access to your phone, and he/she is putting malware or some other vicious software in places where it shouldn’t be. Protect yourself by only responding to text messages that are legitimate. If you did not initiate the conversation, or if you know it is not from a legitimate source, delete the message. Additionally, do not download applications from public WiFi. Hackers live in that world! Also, make sure that your “lock” password is strong and cannot be traced back to you in any way.
If you would like to learn more about the mobile banking app at Southern Bank, click here, or access it directly from the Apple Store or the Play Store (Android).
Sources: 1. bankrate.com 2. wellsfargo.com © 2015 Harland Clarke Digital®