With the increasing popularity of smartphones, more and more people are using apps to conduct personal business online – business that often requires the use of sensitive information such as bank account numbers, credit card data, or passwords.
While your smartphone can make life simpler, you should also be aware of potential threats to the security of your smartphone and the precautions you can take to keep it secure.
There are three areas where smartphone users can potentially fall victim to fraudulent activity. Keep these in mind as you use your smartphone as well as the related tips for preventing fraud. Click here for a downloadable guide or click here to view a video on smartphone security.
If you've owned a smartphone for any length of time, chances are
you've probably misplaced it, at least temporarily. The danger here
is that, if you've made purchases on your phone or, perhaps,
conducted banking activities with it, someone who finds or steals
your phone may be able to extract sensitive personal information
- Tip #1 – Set PINs and passwords on your phone’s homescreen to prevent unauthorized access to your phone. Configure it to automatically lock after 5 minutes or less of being idle.
- Tip #2 – Wherever possible, use different passwords for each of your important log-ins.
- Tip #3 – Don’t modify your smartphone’s security settings, as it can undermine valuable built-in security features.
- Tip #4 – Keep your smartphone’s operating software up-to-date by enabling automatic updates from your service provider. You may also want to install trustworthy security apps that allow you
to remotely locate and erase all of the data stored on your phone.
- Tip #5 – Always report a stolen phone. Wireless providers in conjunction with the Federal Communication Commission (FCC) have established a stolen phone database that will help your provider prevent your phone from being activated without your permission.
Hackers often use apps to entice smartphone users into downloading malware that can steal information or cause damage to your phone.
- Tip #1 – Only install apps from trusted sources. If you have doubts, you can check user reviews, confirm the legitimacy of the app store, and compare it to the app sponsor’s official website.
- Tip #3 – You may also want to install security apps that allow you to remotely locate and erase all of the data stored on your phone.
Surfing on open Wi-Fi networks
Cybercriminals often use unprotected Wi-Fi hotspots to target people online.
- Tip #1 – Avoid public hotspots and instead use protected Wi-Fi from sources you trust or your own mobile wireless connection.
- Tip #2 – Ignore pop-ups or prompts to download software. They are often a hacker’s attempt to infect your phone with malware or spyware.
- Tip #3 – If you don’t get automatic updates, manually update your smartphone’s security software before you travel. Wi-Fi in airports and hotels can be potentially troublesome if your smartphone is not fully protected with the latest security updates.
First Tennessee’s Multi-Layered Mobile Banking Security
When you use Mobile Banking from First Tennessee, you can be certain that your personal information is protected. Our security measures are delivered in a multi-layered platform that offers you security at each level of your Mobile Banking experience.
You will provide credentials upon first use, and your identity is then verified by answering challenge questions generated by First Tennessee’s existing authentication system. Once verified, you can use the device to immediately access mobile banking functionality.
Initiating a secure session requires two factors of authentication: 1) Your confidential passcode; 2) Confirmation of the correct end user device. Without both, authentication will not occur and log-in is prevented. Our process requires that our Mobile Banking users must have previously proven to the bank that the device being authenticated is in the user’s possession and is authorized for access.
Our systems periodically present mobile users with step-up challenge questions in response to transfer, payment, and check deposit transactions deemed high risk or suspicious. This safeguard provides you with an extra level of security before a transaction is approved.