5 Security Tips for Using Mobile Banking

 

 

Mobile banking is a convenient and popular financial tool. But it’s vital to embrace it with security in mind. When using such modern-day technology, take safety measures to protect your personal information, advises Victory State Bank.

To assist in keeping you safe when using mobile banking, payment products and services, the only community-based business bank on Staten Island is sharing these tips from the Federal Deposit
Insurance Corp. (FDIC):

 

BE PROACTIVE IN HOW YOU PROTECT

THE DATA ON YOUR MOBILE DEVICES

Start by using "strong" passwords and PINs. If you're given the option to use more than your username and password to access your bank account or mobile apps on your phone – for example, if you can choose to receive a one-time passcode by email or text message that also will be needed to access a certain account or app – that will provide added security.

Avoid using an unsecured Wi-Fi network, often found in public places, such as coffee shops, because fraudsters might be able to access the information you are transmitting or viewing. Log out of your bank account or mobile app when it's not in use. Just like with your laptop, use a mobile security/anti-virus software and keep it updated.

 

TAKE ADDITIONAL PRECAUTIONS IN CASE

YOUR DEVICE IS MISPLACED, LOST OR STOLEN

Set the screen on your mobile phone to lock after a certain amount of time and use a PIN or password and/or a biometric indicator (for example, a fingerprint or facial recognition) to unlock your mobile phone. Likewise, use PINs or other security features enabled on your smartwatch, such as one that will lock the watch if it is not on your wrist or too far from your mobile phone.  Don't store your PINs or passwords on your mobile phone or tape it to the underside of your smartwatch or mobile phone.

 

CONSIDER SIGNING UP FOR TRANSACTION ALERTS FROM YOUR CREDIT CARD, BANK AND MOBILE APP PROVIDER

These messages can help you identify unauthorized activity quickly. Alternatively, check your transactions regularly on your cards, bank account and mobile app website.

 

RESEARCH ANY MOBILE APP

BEFORE DOWNLOADING AND USING IT

"Make sure you are comfortable that the mobile app is from a reputable source," said FDIC Senior Technology Specialist Deborah Shaw. "Going to the bank's or company's website to find directions for downloading their app can help to ensure you are downloading a legitimate app."

Transaction alerts from your credit card, bank and mobile app provider … can help you identify unauthorized activity quickly.

 

BE ON GUARD AGAINST FRAUDULENT EMAILS

OR TEXT MESSAGES

These communications typically appear to be from a government agency or a legitimate business in order to trick you into divulging valuable personal information (including your birthday, Social Security number, passwords and PIN numbers) that can be used to commit identity theft. The emails and texts could also ask you to click on a link that will install malicious software on your mobile phone and enable the fraudster to gain access to your mobile banking apps.

"To protect yourself, never provide passwords, credit or debit card information, Social Security numbers and similar personal information in response to an unsolicited text message or email," said Michael Benardo, manager of the FDIC's Cyber Fraud and Financial Crimes Section. "If you have any questions regarding the legitimacy of an email or a text, call your bank or mobile app provider, or the business or government agency that claims to have sent the email or text, and be sure to use a phone number you have looked up on your own and not what is in the email or text in question."

 

 

 

ABOUT VICTORY STATE BANK

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island, including the main office in the community of Great Kills and branches in West Brighton, St. George, Dongan Hills and Rosebank.

A planned sixth branch, to be situated in Meiers Corners, has received both regulatory and building department approvals.

For additional information, Victory State Bank may be reached at 718-979-1100, or visited online at www.VictoryStateBank.com.

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