Mobile banking - mobile security

[img_assist|nid=7115|title=|desc=|link=none|align=left|width=100|height=67]Today people live on the Internet, date there, make purchases. No other industry is developing faster than the Internet. One can observe the boom of electronic commerce today. Internet banking is hot and mobile banking hotter. While the former brought our banks to our desktop, the latter has brought it right into our pocket.

However, though both offer tremendous ease and convenience, also have their own share of risks.

Hence, it is important to be aware of safety tips for making transactions through this channel.

So, if you have enabled your mobile banking activated, here's how you can prevent from becoming a victim of mobile banking fraud.

Set up password

Usually all mobile phones have the optional feature of a password or a PIN which can be set up once you switch on the mobile phone or make some configuration changes.

Make sure you always have this feature enabled. It may appear a bit cumbersome in the beginning, but will go a long way in ensuring security.

Guard against viruses!

Like computers, mobile phones, especially smart phones with GPRS, are vulnerable to viruses. The viruses may harm your mobile phone when it is connected to the Internet.

It may also give hackers the opportunity to access your mobile phone to steal or alter your personal information.

Therefore always ensure the following: Install anti-virus software in your mobile phone. Delete junk messages and chain messages.

Do not follow any URL in messages that you are not sure about. Do not download any file from sites (example applications, games, pictures and music) or people (example e-mail attachments) that you are not sure about.

Beware of Trojans/Spyware

Do not download any software without verifying the security and privacy features from the website.

We recommend the following to shield your device from this threat: Install anti-spyware software in your mobile phone. There are products designed specifically for PDAs (personal digital assistants) such as McAfee PDA Virus Scanner and PDA Spybot.

Educate yourself on spyware. Be alert to any spyware-like activities on your mobile phone. Be suspicious if you get lots of unsolicited e-mails /messages.

Have the latest software updates

The manufacturer or dealer of your mobile phone may provide updated software for your mobile phone from time to time. You should check the availability of software updates and install them regularly.

Avoid sharing your mobile phone

Do not forget the following if you have to share your mobile or send it for repair/maintenance: Remove the temporary files and the cache that were stored in the memory of the phone as the temporary files and the cache may contain some of your sensitive information such as account numbers.

Clear the browsing history regularly. Do not allow others access to your mobile phone without logging out from the sites (banking/financial/shopping) that you entered.