Help Protect Your Customers with Mobile Banking Security Tips

MobileBankingThe CFPB has published tips on how consumers can better protect themselves when using their mobile devices for financial transactions. The mobile banking device tips were released in conjunction with a CFPB request for information on how consumers – particularly members of economically vulnerable and underserved communities – are using mobile technology to access financial services and manage personal finances.

The tips include security best practices such as:

  • Setting up alerts and checking your account balances frequently.
  • Protecting your PIN and password and not sharing the information with anyone.
  • Password protecting mobile device and not using easily identifiable passwords such as birthdays.
  • Reporting loss or theft to all financial institutions or financial services providers as soon as it occurs.
  • Using only secure websites and apps.
  • Removing sensitive information from an old phone or device when purchasing a new phone.

The tips can be found on the CFPB’s website here.

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