According to a 2013 report by the Federal Reserve, 87 percent of the U.S. population have mobile phones and 52 percent have smartphones. Of those mobile phone users, 28 percent have performed banking transaction in the past 12 months.
“Bank of Cleveland launched its mobile banking product in 2012 and continues to see growing numbers in its usage,” said Christy Griffith, senior vice president of marketing.
In recognition of National Cyber Security Awareness Month beginning in October, Bank of Cleveland officials have recommended that consumers take extra precaution to protect the data on their mobile devices by doing the following:
n Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen.
n Log out completely when you finish a mobile banking session.
n Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software.
n Use caution when downloading applications. Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.”
n Download the updates for your phone and mobile apps.
n Avoid storing sensitive information like passwords or a Social Security number on your mobile device.
n Tell your financial institution immediately if you change your phone number or lose your mobile device.
n Be aware of shoulder surfers. The most basic form of information theft is observation. Be aware of your surroundings, especially when you’re punching in sensitive information.
n “Wipe” your mobile device’s memory before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.
n Report any suspected fraud to your bank immediately.
“The rise in the popularity of mobile devices has made them a target for cybercriminals,” said Julian Sullivan, the bank’s president. “Attacks that have generally been used on PCs are now making their way to other devices. Banks work hard to protect customer information, and customers play an important role. Any device used to connect to the Internet is at risk, and we urge users to keep safety measures in place.”
Bank of Cleveland opened its doors in May 1987. Today, Bank of Cleveland is the oldest locally owned and managed bank in Cleveland, with five locations throughout Bradley County.