Most people love the convenience of online banking via their smartphone or other mobile device. However, it is important to do it safely and securely. How? NordVPN listed four items:
"1. Don't lose your phone: The biggest security threat of your mobile phone is also its greatest asset – its size. Phones are small, handy, beautiful, and easy to lose..."
So, keep your phone in your hand. Never place it on a table out of sight. Of course, you should lock your phone with a strong password. NordVPN commented about other locking options:
"Facial recognition: convenient but not secure, since it can sometimes be bypassed with a photograph... Fingerprints: low false-acceptance rates, perfect if you don’t often wear gloves."
"2. Use the official banking app, not the browser... If you aren’t careful, you could download a fake banking app created by scammers to break into your account. Make sure your bank created or approves of the app you are downloading. Get it from their website. Moreover, do not use mobile browsers to log in to your bank account – they are less secure than bank-sanctioned apps..."
Obviously, you should sign out of the mobile app when when finished with your online banking session. Otherwise, a thief with your stolen phone has direct access to your money and accounts. NordVPN advises consumers to do your homework first: read app ratings and reviews before downloading any mobile apps.
Readers of this blog are probably familiar with the next item:
"4. Don’t use mobile banking on public Wi-Fi: Anyone on a public Wi-Fi network is in danger of a security breach. Most of these networks lack basic security measures and have poor router configurations and weak passwords..."
Popular places with public Wi-Fi includes coffee shops, fast food restaurants, supermarkets, airports, libraries, and hotels. If you must do online banking in a public place, NordVPN advised:
"... use your cellular network instead. It’s not perfect, but it’s better than public Wi-Fi. Better yet, turn on a virtual private network (VPN) and then use public Wi-Fi..."
There you have it. Read the entire online banking article by NordVPN. Ignore this advice at your own peril.