{"id":22719,"date":"2024-08-30T06:00:54","date_gmt":"2024-08-30T13:00:54","guid":{"rendered":"http:\/\/blogs.mcafee.com\/?p=22719"},"modified":"2024-08-30T06:30:34","modified_gmt":"2024-08-30T13:30:34","slug":"pros-and-cons-of-mobile-banking","status":"publish","type":"post","link":"https:\/\/www.mcafee.com\/blogs\/mobile-security\/pros-and-cons-of-mobile-banking\/","title":{"rendered":"How to Safely Bank Online"},"content":{"rendered":"

Mobile banking is highly secure \u2014 when you take a few straightforward steps, it becomes even safer.<\/p>\n

And those steps only take minutes, leaving you and your finances far more secure than before.<\/p>\n

Use strong passwords.<\/strong><\/p>\n

Start here. Strong and unique passwords for each of your accounts form your first line of defense. However, one thing that can be a headache is the number of passwords we have to juggle \u2014 a number that seems like it\u2019s growing every day. To help with that, you should strongly consider using a password manager<\/a>. A good choice generates strong, unique passwords for each of your accounts and stores them securely for you.<\/p>\n

If you want to set up your own passwords, check out this article<\/a> on how you can make them strong and unique.<\/p>\n

Use two-factor authentication to protect your accounts.<\/strong><\/p>\n

Two-factor authentication is practically a banking standard nowadays. What exactly is two-factor authentication? It\u2019s an extra layer of defense for your accounts. With two-factor authentication, you also receive a special one-time-use code when logging in. That code might be sent to you via email or to your phone by text. In some cases, you can also receive that code by a call to your phone. In all, this makes it much tougher for a hacker to hijack your account.<\/p>\n

Quick note \u2014 never share your unique code with anyone. If someone asks you for it at any time, it\u2019s a scam.<\/p>\n

Keep an eye out for phishing attacks.<\/strong><\/p>\n

Scammers use phishing attacks to steal personal info through emails, texts, and even social media messages. In the case of banking, they look to phish (\u201cfish\u201d) personal and financial info out of you by posing as your bank. They typically make their message sound urgent, like your account shows some unusual activity.<\/p>\n

When you get these messages, always check the sender. Is the address or phone number one that your bank uses? And note that scammers often \u201cspoof\u201d addresses and phone numbers \u2014 making them look legit even though they\u2019re fake. If you\u2019re ever unsure, don\u2019t reply. Contact your bank directly to see if your account indeed has an issue. Also, ignore such messages on social media. Banks don\u2019t use social media messages to contact their account holders.<\/p>\n

Yet better, you can use our Text Scam Detector to detect the sketchy links<\/a> scammers use in their attacks. AI technology automatically detects scams by scanning URLs in your text messages. If you accidentally tap? Don\u2019t worry, it can block risky sites if you tap on a suspicious link in texts, emails, social media, and more.<\/p>\n

Be skeptical about calls as well. Fraudsters use the phone too.<\/strong><\/p>\n

It might seem a little traditional, yet criminals still like to use phone calls. In fact, they rely on the fact that many still see the phone as a trusted line of communication. This is known as \u201cvishing,\u201d which is short for \u201cvoice phishing.\u201d The aim is the same as it is with phishing. The fraudster is looking to lure you into a bogus financial transaction or attempting to steal info, whether that\u2019s financial, personal, or both.<\/p>\n

The same advice applies here. End the call and then dial your bank directly to follow up.<\/p>\n

Steer clear of financial transactions on public Wi-Fi in cafes, hotels, and elsewhere.<\/strong><\/p>\n

There\u2019s a good reason not to use public Wi-Fi: it\u2019s not private. They\u2019re public networks, and that means they\u2019re unsecured and shared by everyone who\u2019s using it. With that, determined hackers can read any data passing through them like an open book. And that includes your accounts and passwords.<\/p>\n

Instead of public Wi-Fi, use your smartphone\u2019s data connection, which is far more secure. Yet better, consider connecting with a VPN.<\/strong> Short for a \u201cvirtual private network,\u201d a\u00a0VPN helps you stay safer<\/a>\u00a0with bank-grade encryption and private browsing. Think of it as a secure tunnel for your data, which keeps unwanted eyes from snooping. It\u2019s a particularly excellent option if you find yourself needing to use public Wi-Fi, as a VPN effectively makes a public network connection private.<\/p>\n

Protect your banking and finances even further<\/strong><\/h2>\n

Some basic digital hygiene goes a long way toward protecting you even more. It\u2019ll protect your banking and finances and all the things you do online as well.<\/p>\n

Update your software<\/strong>.<\/p>\n

That includes the operating system of your computers, smartphones, and tablets, along with the apps that are on them. Many updates include security upgrades and fixes that make it tougher for hackers to launch an attack.<\/p>\n

Lock up<\/strong>.<\/p>\n

Your computers, smartphones, and tablets have a way of locking them with a PIN, a password, your fingerprint, or your face. Take advantage of that protection, which is particularly important if your device is lost or stolen.<\/p>\n

Use security software<\/strong>.<\/p>\n

Protecting your devices with comprehensive online protection software<\/a>\u00a0fends off the latest malware, spyware, and ransomware attacks. Online protection like our McAfee+ plans<\/a> further protects your privacy and identity in several ways:<\/p>\n