MUST READ: Tips to bank safely on your smartphone

Even when using your smartphone for your banking, there are still precautions that should be followed.

As more consumers embrace the ease and convenience of accessing banking services through their mobile devices, it is becoming more essential for them to protect themselves from fraudsters by constantly keeping up to date with the latest Apps and security measures.

Head of Smart Devices at a local bank, Kartik Mistry said although technology allowed you to bank anywhere at any time, the onus was on you to constantly look out for the latest security measures to prevent fraudsters from robbing you of your hard earned cash.

He outlines important safety tips that consumers should consider when accessing banking services on their mobile devices, either through Banking Apps, cellphone banking and the mobile web.

Download Apps from trusted sources:

It is not safe to download Apps from suspicious or unknown sources as these can expose your mobile phone to malicious malware and viruses that can gain unauthorised access to your private information.

“Install an up-to-date anti-virus application to your mobile device. Most Banks provide this free of charge to their customers.”

SIM Swaps:

Protect yourself from Sim Swap fraud by always keeping your phone switched on, ensuring that you have connection to the network and can send and receive messages.

Cellphone Banking:

  • Memorise your PIN, never write it down or share it with anyone.
  • Choose an unusual PIN that is hard to guess and change it often.
  • Remember, for your own security you are required to re-enter your PIN before each transaction.
  • If you think your PIN has been compromised, visit your nearest branch and change it immediately.
  • Protect your phone content and personal information you saved by using a PIN or password to access your phone. Do not leave your phone unlocked.
  • Avoid responding to competition SMS’s or MMS’s.
  • If you receive a phone call requesting personal information do not respond and end the call.

“If you suspect that your mobile device may have been compromised, check if you are free from viruses and malware, have access to your cellphone network and avoid entering your banking PIN and accessing banking services until you are certain that it is safe,” concluded Mr Mistry.

Also read: Newcastle residents targeted: Avoid becoming a victim of scams

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