Android Is mbanking safe?

[ithehappy]

So better would be to show people what to look out for. Phishing attacks one can be trained to look out for.

But possibility of keylogger means unless you use a sterlised device just for banking then you should not use a regular device for banking at all.

Yes, in my dictionary that's better than wasting hours in bank and see some dumb faces. I have never heard anyone had any problem with internet or mobile banking, and I can't say how many people actually use that including my clients, relatives and family members. As I said, it's all about luck.

Yesterday I was listening to some local programme where the topic was how to be safe on internet banking and mobile banking, and some intelligent persons were saying some masterful tips like, like always logout from a site, use big passwords, always keep the debit/credit card by yourself etc. Well I guess fifty years from now we will re-know that 2+2 = 4.

PS: There was a time I myself was concerned about this, and I started using Tor to do those online transactions, then I thought about what would happen if a transaction fails, went back to regular hackable way from then.

One basic and simple rule for me is, DO NOT keep a lot of money on the accounts connected with internet/mobile banking, that's not hard to do. At least that's what I do. They can take all my money if they want, I won't think a minute

 

[blr_p]

One basic and simple rule for me is, DO NOT keep a lot of money on the accounts connected with internet/mobile banking, that's not hard to do. At least that's what I do. They can take all my money if they want, I won't think a minute

Ah, so that is your work around. hmm. I can see this working for an account which you make to have regular payments out of.

My main use of lets say the most use i'd have for mobile banking is balance checking. That means accounts with sizable amounts in them.

Using a credit card would add an extra layer of complexity here. The account or how big is no longer an issue but abuse of the card comes in. Generally i try to avoid cards in favour of cash. You can see how much is going out but with a card its invisible. An abstract figure.

 

[ithehappy]

Umm, balance checking? What's the need for mBanking in that? You can do that in any ATM!

Anyway, mobile or internet banking for me is important, as I have to do a lot of NEFT and IMPS payments (other than the mobile and DTH recharges), and I am sure that is the main purpose of having internet banking, unless I am missing something.

 

[scott1391990]

Umm, balance checking? What's the need for mBanking in that? You can do that in any ATM!

Anyway, mobile or internet banking for me is important, as I have to do a lot of NEFT and IMPS payments (other than the mobile and DTH recharges), and I am sure that is the main purpose of having internet banking, unless I am missing something.

yeah you are. Not everybody has time like you to go out anytime to check their balance

 

[ithehappy]

yeah you are. Not everybody has time like you to go out anytime to check their balance

Okay, but I don't have the time to go to banks and drop money in someone else's account! LOL!

You do know you can transfer money from one bank account to another bank account right?

 

[Crapmypants]

Actually mobile banking will pick up now that banks have limited atm usage. some have even limited usage at their own atm's.
Usage will thus increase and so will the risk of attack as mobile banking apps become more popular.
Either way, all firms will need to dedicate more resources to security.

 

[ithehappy]

When I go to my dad's bank (where my dad worked), I see people of 50-75 mostly, I mean depositing and withdrawing money, I have not seen a single person of my age, or anyone in the same age group. I mean who goes to bank nowadays for raw monetary transactions?

 

[blr_p]

Umm, balance checking? What's the need for mBanking in that? You can do that in any ATM!

Saves me a trip to the bank. Waiting on a payment and it can take days so this is easier.

yes or not at the click of a button. What i noticed sometimes is the account gets credited but its not a clear balance. And that needs to be verified at the bank.

Anyway, mobile or internet banking for me is important, as I have to do a lot of NEFT and IMPS payments (other than the mobile and DTH recharges), and I am sure that is the main purpose of having internet banking, unless I am missing something.

Sure. Easier and faster than filling out the NEFT form.

 

[avi]

How much percentage of online users are affected anyway? 0.25%? A lot less actually

[Citation Required]

and yeah, stop making ad hominem attacks and calling people dumbasses

 

[PankajRamnani]

I would strongly urge you all to watch this documentary by BBC. It's called Inside The Dark Web. I'm not sharing anything else.

You all would be actually scared after watching this (I'm definitely scared).

 

[ithehappy]

Saves me a trip to the bank. Waiting on a payment and it can take days so this is easier.

yes or not at the click of a button. What i noticed sometimes is the account gets credited but its not a clear balance. And that needs to be verified at the bank.


Sure. Easier and faster than filling out the NEFT form.

NEFT form? All you have to do is add the account number and IFSC code![DOUBLEPOST=1427568527][/DOUBLEPOST]

[Citation Required]

and yeah, stop making ad hominem attacks and calling people dumbasses

What the **** is seriously wrong with you? I mean you are retard, proven, but other than that?

 

[karantena35]

Again I answer in this topic, because I just have to write some things.

Nothing, but nothing in the IT world is not safe. Remember that! You should be careful whatever you do and don't enter your perosnal data anywhere.

Personally, the most tragic is when someone "falls" on trick with e-mail from "Nigerians" and "similars". You know what I mean, mail when someone writes that he/she is a rich man, but he needs a few hundred dollars that escapes from a country where it is trapped. Come be serious people, who still believe it? But I still find some threads where someone write that he pay. (google nigerian scam and similiar)

And remember, no matter how to protect yourself, you are not 100% safe. Antivirus on computer can help, but not 100%. This site advised you how to protect your WP page, but even if you do that, do you think you are 100% safe? You don't need to be too much smart to conclude, but with some act you are safer. But don't dream calm.

Everything in IT world is not 100% safe. If you make some acts to protect yourself you can sleep better, but...

 

[blr_p]

NEFT form? All you have to do is add the account number and IFSC code!

I meant the old school way, fill challan etc. That is how people who do not do transfers as often as you manage it

What the **** is seriously wrong with you? I mean you are retard, proven, but other than that?

He wanted to know where you got that 0.25% figure from. As in only 0.25% of people get affected by fraud.

 

[avi]

What the **** is seriously wrong with you? I mean you are retard, proven, but other than that?

Yeah, keep continuing your ad hominem attacks, but don't provide citations and sourses for your claims. Proves who's a retard

In case you have difficulty in understanding, please check this.

 

[chiron]

I am comfortable using a PC which is why I feel safe using netbanking. Not so with my smartphone and hence I've avoided doing transactions on it.

 

[axeman]

Some more listening material. Again from my peer industry.

Hope this gives you a view to understand the challenges that the Banking industry faces today wrt to mobile and online banking a bit, and why it can never be considered fully safe.

 

[blr_p]

This is quite recent Dec 2014.

They looked at 27 banking apps from around the world and sbi was one of them. They say to prefer apps from local or national banks to international banks presumably because these apps would be less known to hackers.

Listen to the questions starting at 45:00, where somebody asks them point blank just how bad is it it. Not so bad. What is interesting is the apps are not horribly made but they track data, which if sniffed provides many avenues for attack on the user. eg things like wifi ssid etc being recorded. 5 of the banking apps could beat MITM attacks.

in questions asked go to 49:00, which apps were good, he mentions a few and the only app from india.

Hope this gives you a view to understand the challenges that the Banking industry faces today wrt to mobile and online banking a bit, and why it can never be considered fully safe.

yes but so is driving or living but there are precautions.[DOUBLEPOST=1427626486][/DOUBLEPOST]

When I go to my dad's bank (where my dad worked), I see people of 50-75 mostly, I mean depositing and withdrawing money, I have not seen a single person of my age, or anyone in the same age group. I mean who goes to bank nowadays for raw monetary transactions?

That is a good thing in India because in the west they forcing people to go online to save on operating costs. If one does not want to use online then the offline option exists and should always be available.

So this notion of being with the times by using online does not wash with me. If it works for you then good but i don't want to be forced into it.

The problem is the future. with jan dan and adding over a 100 million people to banking in the last 6 months they are going to have to seriously consider mobile banking.

 

[ithehappy]

Yeah, keep continuing your ad hominem attacks, but don't provide citations and sourses for your claims. Proves who's a retard

In case you have difficulty in understanding, please check this.

Nah, there's nothing to understand, especially when it's coming out from a genius

0.25% is just a number I mentioned for example, this is not a courtroom, so that's that. In reality though the number of affected user is much much less.

Believe me when I say this, get-a-life, I mean I know how hard it is for some twisted-brains, but it's never late to try-to-start

 

[chiron]

^^ jeez, you are the worst poster i've come across so far on any forum yet

 

[blr_p]

0.25% is just a number I mentioned for example, this is not a courtroom, so that's that. In reality though the number of affected user is much much less.

What you are trying to say is you do not feel endangered using mobile banking, you've not had a problem, you likely know others who don't either.

So what reassured you and what precautions or advice could you give to be safe to those that want mobile banking.

Got any best practices to reduce risks ? This is what is missing in this thread.

Don't try it its not 100% safe or i use it all the time and got no problems does not say much.

Of late phishing is on the decline according to the first lecture. So that not a big issue any more. The apps used are safe by themselves but if the device you use gets compromised then information can leak out. Funnily enough rooting increases that risk. Its easier for a hacker to exploit a rooted device than one that is not, or lets say harder.

Since you like to play around what would you say to that ?

The last lecture is very interesting will comment on it later when i get time.