Mobile Banking Security - Jul 23

How to Make Mobile Banking Safer
"During long trips – or even short ones—it’s nice to keep up with your finances. Or to be able to log in to your bank account to pay a bill you forgot to take care of before leaving. Whatever the reason, if you think you’ll need to conduct mobile banking during your trip, be sure to get set up with your bank’s app before you leave home. That way you’ll be able to set up your account in a secure location – always be wary of shoulder surfers when you’re using a mobile device in public – and get familiar with the app."

Why Banking on Your Smartphone Is Safer Than Using Your PC
"It's easy to feel like mobile banking must be risky: Carrying around all your account information in your smartphone? Couldn't it be hacked? And what if you lose it? The big selling point of mobile banking -- its ease of use from anywhere -- has induced millions of people to overcome those fears. But mobile banking, it turns out, may be doubly blessed: IT security experts say "thumb banking" is actually more secure than online banking from your computer."

Top 5 Mobile Banking Errors by Members
"Call it banking’s Pogo moment: We have met the enemy and he is us. 'The weakest link in the online and mobile banking security chain is the end user,' said Mike Moir, an executive with security firm Entrust. The key insight: as much as credit union IT security personnel need to keep aware of what cyber-crooks are cooking up, they also need to stay well aware of what members may be doing to (unwittingly) undermine their own security and safety."

Mobile Banking: How to Balance Opportunities and Threats
"Whether by smart phone, tablet or laptop, mobile banking is where customers and their institutions are headed - and so are the fraudsters. As banking institutions globally roll out more services through the mobile channel, security leaders are challenged to stay a step ahead of the evolving risks. But what are today's top threats, and what are the emerging security components institutions must put in place to take advantage of new mobile opportunities?"

Smishing for mobile banking details increases - RSA
"Beware of smishing! The practice of sending a text message to a user’s mobile phone in an attempt to get them to divulge mobile banking details is on the rise, warns IT multinational EMC’s security division RSA. Smishing, or SMS phishing, usually involves a call to action for the intended victim that requires an immediate response."

5 Critical Strategies for Mobile Banking Security
"By 2013, one-third of mobile phone users are expected to use mobile banking services. Already, one out of five Americans accesses financial information through a mobile phone, according to March 2012 research conducted by the Federal Reserve Board’s Division of Consumer and Community Affairs.Yet the increasing use of mobile financial services has been accompanied by increased risk."