Mobile banking allows users to bank while on-the-go, which in turn allocates more time for you to do the things that you love doing. Be careful of the effects that mobile banking has brought upon us… HACKERS. The ease and convenience of mobile banking comes with risks, most notably, vulnerability to hackers.
According to USA Today, the number one complaint to the Federal Trade Commission in 2008 was identity theft, and today, that number has increased by twenty percent. There can be many reasons why this may be, but one obvious reason is that we, as a society, have become more digitized. Mobile banking gives us the freedom to do what we have to do, and from wherever we want. But mobile banking also makes us a bigger target to hackers.
You’ve probably heard of the most common way hackers can access our personal banking information, either from one of our past blogs, the local news, or a sci-fi movie: phishing. This is when a criminal creates authentic looking emails or websites with links that trick customers into providing their personal information, like a login profile. The Anti-Phishing Working Group has reported that phishing scams have increased by 5700% in the last twelve years.
The most effective way to decrease your risk of being hacked through phishing attacks: two-factor authentication. Choose to opt into two-factor authentication through your bank. This will ensure that you are, in fact, the person trying to access your online banking information. It works by sending you a specialized code on a device only you have access to, each and every time you attempt to log in. This is so often a text message sent from the bank’s system to your cell phone or your email. While this is not an infallible solution, it does go a long way to reduce your vulnerability.
The bottom line is there’s really no better time than the present to become a LibertyID member for identity theft restoration protection. LibertyID provides expert, full service, fully managed identity theft restoration to individuals, couples, extended families* and businesses. LibertyID has a 100% success rate in resolving all forms of identity fraud on behalf of our subscribers.
*Extended families – primary individual, their spouse/partner, both sets of parents (including those that have been deceased for up to a year), and all children under the age of 25