Secure your banking data

You probably already know it’s important to keep credit and debit card information confidential, but you also need to lock down your banking information — especially if you use your phone to bank online or make purchases. In 2020, a survey conducted by Business Insider Links to an external site. found that 89% of respondets reported using mobile banking services, and that most mobile banking users are younger.

Do not use public Wi-Fi networks for financial transactions. Consider your device, apps and financial institution when deciding how to protect yourself further. You might:

• Use password-protection.
• Customize your privacy settings and limit location tracking.
• Regularly install suggested updates to your device’s operating system and apps.
• Install anti-malware software and use services that let you erase your data if your device is lost, stolen or compromised.
• Log out of mobile banking apps when finished.
• Use two-factor authentication requiring an extra step (such as a code sent by email or text) to log in.
• Research the reputation of online banks.
• Regularly verify your account balance and quickly report suspicious activity.

Never give your financial information to anyone who calls, texts or emails you unless you are able to verify the request in another way. Don’t be pressured. Thieves often try to make you act quickly so that you don’t have time to think.

 

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