After demonetization many things changed in India. Demonetization reduced cash transactions and encouraged digital payments. After demonetization, many people started using digital payments as it was very simple and hassle-free.
There are many bank apps in place which offer various banking services. As the number of people using digital payments is on the rise, frauds too are increasing. Fraudsters come up with innovative tricks to wipe out money from innocent people’s bank accounts.
As a lot of people are losing money to frauds, State Bank of India (SBI) has issued certain guidelines to customers for secure mobile banking.
See Also: How To Secure Mobile Banking Apps?
1. SBI advises customers not to install or open any kind of flash player application from unknown sources. This is mainly because these apps or links can include malware and if it’s installed on your phone; fraudsters gain easy access to personal details.
2. You must always download the app from Playstore or App store. Never download from third-party app stores or from links sent via SMS or emails. Doing so can lead to compromising of financial information.
3. Sometimes, fraudsters send phishing emails stating there is risk to your account and you must send financial information to secure it. The main intention of sending these emails is to steal personal banking information. One thing you must always keep in mind is that, in case there is some risk to your bank account, the bank will never send SMS or emails. Instead, they will contact you directly or block your account.
4. Whenever you download an app, there is something called app permission which you must verify. This permission request helps protect sensitive information as apps gain access to them only if you accept permissions.
5. In order to stay protected from fake apps, you must never grant administrative privileges to any app. By giving admin privileges, you give free access to everything on your mobile. It is advisable to have device administrator privileges as this protects by blocking or warning you of apps from unknown sources.
6. No genuine apps asks for admin privileges. In case the app which you have downloaded is asking you for Admin privileges, uninstall it immediately.
7. You must always keep your mobile operating system updated. You will get a notification whenever there is a new update. By updating mobile operating system, your mobile will have advanced security.
8. You must use mobile anti-virus software to protect your mobile from viruses which hack into the system. By using this software, you are warned on spam or unsafe apps. It also removes the bugs of outdated apps.
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