How to Protect Your Mobile Wallet

As consumers increasingly use their mobile devices as wallets to do everything from paying for goods and services to banking, it's vital to protect your personal information.

Follow these eight simple tips to protect your information while using mobile wallet applications and services.

  1. Choose apps or services from trusted sources. BEFORE you use them, read the privacy policies and terms and conditions to ensure you agree with them.
  2. Use security features and software from your device manufacturer, carrier and/or app providers. This includes remote tracking, locking and erasing as well as passwords and PINS to prevent unauthorized access to your mobile device and to your mobile banking apps/services. These should be difficult to guess, changed periodically and never shared.
  3. Choose a unique password that only works with your mobile wallet apps or services. Each one should be unique so that a cyberthief doesn't have access to all of your accounts.
  4. Stay updated with your mobile device software and apps since these updates may contain improved security and enhancements.
  5. Keep your Personally Identifiable Information (PII) such as name, address or birth date and credentials (e.g., login username) private and secure.
  6. Only connect to knowingly secure networks, such as your carrier's network. Most free Wi-Fi hotspots are unsecure, which make you more vulnerable to hackers and cyberthieves.
  7. Back up the information on your mobile device to a PC or service provider (e.g., cloud) in the event it needs to be restored or downloaded to a new device.
  8. In the event something goes wrong, know who to contact so you may stop any unauthorized use or purchases ASAP.
Last Updated: May 2013
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