The widespread use of on line and mobile banking means more convenience for consumers. Unfortunately, it also means more opportunities for consumer fraud.
The largest threat to its security is not the technology but the fact that many consumers are ignorant of the fraudulent applications that exist online and on mobile platforms.
You can minimize the risk of fraud and help protect your identity while using mobile banking services by following these common-sense tips offered by Technology Credit Union.
Password-protect your device and lock your device when it's not in use.
Delete text messages from your financial institution frequently.
Personal information about your accounts should never be disclosed via text message.
If you change or loose your mobile number contact your financial institution to change the details of your mobile baning profile
Don't hack or modify your device.
Don't download applications onto your phone without checking them out first.
Report any banking application that appears to be malicious to your financial institution.
Monitor your financial records on a regular basis.
Finally, if you become a victim of identity theft, contact your financial insitution immediately.
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