With smartphones, we can manage personal finance anytime and anywhere.
Mobile banking is undoubtedly convenient, and like many popular technologies, it is easy to learn and master. However, users should exercise caution when using mobile banking and keep the following safety tips in mind.
Take mobile phone security seriously
Set a screen lock with a secure password on your mobile phone to add a line of defence in case the device is lost or stolen. For e-wallets and online banking accounts, password authentication is usually required. Avoid choosing automatic login, sticking the written passwords on your smartphone or smartphone cover, or disclosing passwords to anyone.
Be mindful of online money transactions and payments
When making a payment or fund transfer with an e-wallet, always verify the amount and recipient before confirming the payment, as it will be difficult to cancel the payment afterward.
Do not open any suspicious emails or messages
Online scammers will entice victims to provide their personal information or click on malicious hyperlinks via phishing emails, SMS or social media messages. When you receive a suspicious message, it is best to delete it.
Use a secured WiFi network
Avoid logging into your email or online banking account with public WiFi networks to protect personal information such as passwords. If you need to go line with a public WiFi, choose one with a password (with a lock sign).
Remain cautious on social media
Do not easily trust what you read online, especially when it comes to money matters.
27 January 2025
