While banking online, we encourage you to follow these best practices:
There are steps that must be taken to guarantee the security of your mobile banking transactions.
The following advice can help you keep your mobile banking safe:
Use Strong Passwords
For your mobile banking app, use a strong, one-time password that combines letters, numbers, and special characters. Personal information like your name or birthdate should be avoided.
Enable two-factor authentication
Two-factor authentication increases the security of your mobile banking account by requiring a second form of identification before logging in, such as a code delivered to your phone. Hackers will find it far more challenging to access your account as a result.
Download from a Trusted Source Only
Only download mobile banking applications from reputable stores, like the App Store or Google Play Store. Avoid downloading apps from unofficial sources since they can be infected with malware and jeopardize your security.
Keep Your Operating System Up to Date
Security fixes that are included in routine software upgrades help keep your device and mobile banking app secure. To benefit from these security updates, make sure your operating system is up to date.
Use a Secure Wi-Fi Network
Use a secure Wi-Fi network to use your mobile banking app. Public Wi-Fi networks are frequently unprotected, which allows hackers to utilize them to steal private data.
Be Wary of Public Wi-Fi
When using public Wi-Fi, exercise caution when it comes to the data you provide and the websites you access. On public Wi-Fi networks, stay away from logging onto critical information like your mobile banking account.
Keep Your Device Secure
When not in use, keep your mobile device safe by locking it with a password or PIN and storing it in a secure location.
Watch for Suspicious Behavior
Keep an eye out for any unusual activity on your account and report any unauthorized transactions rig.
Don’t Share Sensitive Information
Never discuss sensitive details over the phone or by email, such as your password or account information.
Use a Mobile Security App
A mobile security app offers a supplementary defense against malware, viruses, and other security concerns.
By following these tips, you can keep yourself safe from potential scams:
Recognize when you’re being phished via email
Scrutinize all email correspondence regarding wiring funds.
Ask yourself the questions below:
Minimize wire payments
If a supplier makes a wire transfer request for services, the best practice is to ask to pay via ACH or with a credit card, as those methods offer you more protection against fraud scams.
Confirm wire payments over the phone
Always verify the authenticity of each wire transfer request. Call the person or company using a number you have previously called — not one from the current wire transfer request — to verbally verify it.
Be highly suspicious of a change in wiring instructions
Implement a call-back verification process when setting up payment instructions for a new vendor/supplier or making changes to payment instructions for an existing vendor/supplier.
Be wary of foreign banks
Unless your vendor is foreign, it is highly unusual for vendors to use a foreign bank to collect payments for domestic services.
In addition, it is a good idea to implement internal controls, such as dual control (2 people authorization) and segregation of duties (i.e. one person receives the request for funds, a second person authorizes the release of funds).
The company should implement a cybersecurity policy and review it often.
If your account is a target of wire transfer fraud, immediately contact us at:
Houston Office: 713-497-1515
Dublin Office: 254-445-2213