Mobile Banking Fraud
What is Mobile Banking Fraud?
Mobile Banking fraud is when fraudsters use cell phone banking services like mobile banking apps telephonic conversations to swindle money from bank users.
Mobile Banking Fraud Tips
- The mobility of your cellphone allows you to bank at any time from practically anywhere. It is a safe way of doing your banking as it relies on encrypted SMS messages or secure internet connections.
- Use a password to protect your phone.
- Never provide personal identification or banking information over your mobile device unless you initiate the contact with a bank on its official contact number.
- Memorise your PIN, never write it down or share it with anyone.
- Choose an unusual PIN that is hard to guess and change it often.
- If you think your PIN has been compromised visit your nearest branch and change it immediately.
- Do not leave your phone unlocked.
- Do not respond to competition SMS's before you have verified if the competition is real or not.
- If you use a Smartphone, install an up-to-date anti-virus application on your cellphone.