In our tech-savvy world, everything is readily accessible and convenient…even banking. Gone are the days of waiting in line at the bank or even waiting for your computer to boot up. Now you can get access to your bank account from anywhere in the world via your smart phone or tablet.
But consumers need to be more cautious than ever when banking through any device, as hackers can prey on the unsuspecting. The FINRA Investor Education Foundation, part of the Financial Industry Regulatory Authority, offers these five tips on how to keep your identity safe and your money in the bank:
Password-protect your phone or tablet so that only you can get access to the information on your device. This will help protect you if your phone or tablet is ever lost or stolen.
Never give personal information unless you start contact with your bank or other financial institution. Financial institutions should not ask account numbers, Social Security numbers or other sensitive information through email or text messages. If you’re not sure about a request, contact your bank by calling number on the back of your debit or credit card.
Don’t stay “auto-logged in” to your accounts. Even though it’s convenient, it increases the risk that an unauthorized user will get access to your accounts.
Delete old texts from your bank to cut your exposure to fraud.
Report lost or stolen devices immediately to your wireless provider and financial institutions.
Read more from FINRA about how to protect your money.