By Kang Seung-woo
With the growing number of transactions via smartphones, the nation’s financial watchdog came up with 10 ways Tuesday of how to keep concerns at bay regarding mobile trading.
As more and more Koreans carry out financial transactions on the cutting-edge handsets, fears have lingered on the possibility that they might be vulnerable to security threats.
The Financial Supervisory Service (FSS) said that first of all, smartphone users have to download programs linked to financial activities from official distributors as those from unauthorized sources might breed viruses.
Second, it advised users not to save financial information, such as log-in details including passwords or account numbers. In case of loss or a virus, the data may end up in the wrong hands. The automatic log-in option is also one to avoid, as well.
Third, passwords should be different from those of Internet portal sites or shopping malls as users usually put their birthday or telephone number, which is easily deciphered or analogized.
Fourth, people are required to have their digital certificates reissued in case of robbery or loss to prevent additional damages. When mobile credit cards are authorized on smartphones, they need to suspend them.
Fifth, they should delete any saved information on the gadget before a repair or exchange.
Sixth, for better protection, they need to take advantage of a short messaging service that informs them of transactions and one time password (OTP) features.
Seventh, changing operating system (OS) is not a good option in terms of security. If anyone arbitrarily changes it, the system can be exposed to problems because the security level is lowered or removed.
Eighth, they had better update OS, anti-virus vaccines and financial applications on a regular basis, while using anti-virus programs.
Ninth, the auto-lock system should be on, while frequently changing the password.
Finally, users should refrain from using illegitimate Wi-Fi services because they can expose personal information.