Security Tips for Mobile Banking
Use Authentic Banking Software
Make sure you install authentic software on your mobile phones, and ensure it is from a trusted and approved source. Most of the banking software for mobile phones is developed by third-party firms, so before you download anything, confirm with the bank for the authenticity and the latest version.
Protect your mobile with a password, and set the maximum number of incorrect passwords a user tries to enter to three. After three unsuccessful attempts, the mobile should automatically wipe out all the data that is stored on it for security reasons. Choose passwords that are composed of alphanumeric and special characters, and those which others cannot guess. Do not use date of birth, SSN, or any names as passwords. Change your password once a month.
Change the personal identification number (PIN) or access code provided by the bank at the first attempt. Use a combination of numbers that is difficult to guess for anyone, and does not include SSN or date of birth. Change the PIN regularly and do not repeat the same PIN. Banks usually take precautions in this case and do not allow users to reuse PINs