Mobile Banking Security

Mobile Banking Best Practices

Device Best Practices

  • Download the Open Bank mobile banking application only from trusted sources and approved App Stores.
  • Do not “jailbreak” your mobile device. When you “jailbreak” your device, you may be opening yourself up to additional security risks.
  • Apps are one of the main ways viruses and other malicious threats enter a mobile device, so take extra precautions when it comes to what you download on to your device.
  • Research apps before you download them. It is a good idea to review the privacy policy and understand what personal data the apps will be able to access. In addition, find out if other users have had problems with the apps.
  • Keep your mobile device’s operating system and applications up to date with the latest security patches.
  • Install anti-virus and anti-malware software and remember to update it regularly.
  • Regularly back up your mobile device’s stored data to enable its recovery if your device is lost or stolen.
  • Secure your mobile device with a screen lock to help keep your data protected. Most mobile devices offer the option of inputting a password, PIN, pattern or fingerprint to unlock a device.
  • Enable the automatic screen-lock feature on your mobile device when it is not being used.
  • Remember to delete all the information from your phone prior to donating, selling or recycling old devices.

User Best Practices

  • Keep your password information safe and use strong passwords. Do not use passwords that include birthdays, names, social security numbers and etc.
  • Change your passwords frequently. This will reduce the risk of a compromised account.
  • Avoid using password managers. Even though they may be convenient, password managers may create a habit of not changing your passwords regularly and therefore making it easier to forget your passwords over time.
  • Be cautious on public Wi-Fi networks. Many public Wi-Fi areas are not encrypted and are prime targets for hackers to access information on your mobile device or computer. Do not access banking applications using private credentials while connected to a public Wi-Fi connection.
  • Do not store financial information (account numbers, access ids, passwords) on your mobile device.
  • Be aware of your surroundings when accessing your mobile banking account.
  • Never send financial information in emails or text messages. Never respond to “phishing” text or email requests asking for your financial information. Open Bank will never request information in this manner.
  • Never access your Online Banking account from a “jailbroken” or “rooted” mobile device.
  • Be careful about what and where you click online. Look out for security enabled website addresses that start with “https://” (the extra “s” indicates security), not “http://”.
  • Monitor your accounts on a regular basis. This will help to spot any suspicious activity.
  • Be mindful of how much personal information you share on social networking sites. The more information you post about yourself, the easier it is for someone to use that information to access your account, steal your identity, and etc.
  • Remember to log out of mobile banking when you are finished with your session.

Lost or Stolen Devices

  • If you lose your mobile device, notify your mobile carrier and suspend your service.
  • If you lose your mobile device, notify Open Bank immediately at 213.892.9999.
  • Log into your Online Banking profile and remove the mobile device and turn off text message banking if it is enabled.
  • Ensure that you install software capable of tracking and remotely wiping your device should it get lost or stolen.