Mobile users tend to be the first to adopt new tools, and mobile banking is certainly one tool that was picked up quickly. Interestingly enough it’s the introduction of the tablet that is now driving changes in security. And, of course, security is of paramount importance when it comes to banking.
Among today’s growing concerns in mobile security are:
- Mobile malware such as mobile Trojans and rootkits designed specifically for the mobile environment.
- Third-party apps downloaded from not-so-well-known app stores may be infected with malware.
- Unsecure Wi-Fi hotspots allow hackers to gain access to mobile devices and the information stored within them, including your bank account information.
How do new developments ensure safe mobile banking?
When done correctly, your mobile banking ‘identity’ should be linked to a specific device. This secondary barrier, combined with push messages from your bank, help you to identify fraud almost instantly.
Consumers are demanding privacy and protection, this puts app developers under pressure to deliver on those demands especially when it comes to personal information and banking. As a result, developers have begun exploring facial and voice recognition technology (think Siri and Ice Cream Sandwich operating system) which will help ensure that only YOU can get into your phone.
In the meantime, what can YOU do? Stay informed on the mobile environment – for example…
- How to bank safely from your smartphone
- Mobile Security & Malware Protection
- A mobile security manifesto
And remember: you can always count on BullGuard Mobile Security to keep your identity and banking data cyber-secure day in and day out.