David over at Mobile Manifesto answers that question for us as he refutes the critics. He tells us:
Mobile Banking CAN be as secure or more secure than traditional online banking. The safety of your money depends upon how your bank chooses to implement mobile banking. Like many other products, some mobile banking solutions are more secure than others.
But he doesn’t leave it there. David also tells us what key features we should look for:
* 128-bit Encryption
* Bank protection in the event of fraud
* Bank-specific username & password
* Multi-factor authentication
* Lockout & timeout capabilities
And what we should watch out for:
* SMS Links
* PIN Vaults
* SMS Transactions
* WAP 1.0 Mobile Internet Pages
If you head over to the full post, David has explanations for each of the points in the list above.
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