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Safe Ways to Bank With Your Smart Phone
Follow these steps to lower the risk of having your personal information stolen.
By Cameron Huddleston, Kiplinger.com
Using your smart phone to check your bank account balance or deposit a check is convenient. But is it safe?
Hackers are getting better at finding ways to tap into smart phones
and capture people’s account numbers and other personal information.
However, there are ways to lower your risk of becoming a victim, says
Michael Gregg, a cyber security expert and founder of Superior
Solutions. Here are his tips:
Don’t use public Wi-Fi to access accounts online.
Use your phone provider’s network, instead, because it’s more difficult
for hackers to tap into it. Public Wi-Fi connections, on the other hand,
are easily compromised not just by savvy cybercriminals but by anyone
who downloads a free program, which allows users to see what others are
doing online and log onto their accounts as them.
Watch out for smishing (fake text messages). If you
get a text message supposedly from your financial institution warning
you that there may be a problem with your account, don’t click on any
links or call a number in the message. The link could take you to a
phony site with malicious software that will give criminals access to
your phone. And the number could connect you with scammers who are
trying to collect your account information. Go directly to your bank’s
Web site to check your account or to get a customer service number. And
if you get a text message asking you to download a security update for
your phone, don’t be fooled. Smart phone makers don’t send out security
updates by text message, Gregg says.
Be careful where you browse. Go to sites you know to
conduct financial transactions. And before downloading any banking
applications, check your financial institution’s site to make sure it
offers one. Apple puts all apps for the iPhone through serious scrutiny,
but other smart phone makers do not. A year ago, more than 50 fraudulent mobile banking apps
appeared in the Android marketplace and were removed once they were
discovered -- after many had bought and downloaded the apps.
Don’t jailbreak your iPhone. You’ll lose your
security mechanisms, Gregg says, if you tamper with your iPhone so it
can run on another service provider’s network or download additional
apps.
Reprinted with permission. All Content ©2011 The Kiplinger Washington Editors. www.kiplinger.com.
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Economic Calendar for the Week of March 28 - April 1, 2011
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.
Economic Calendar for the Week of March 28 - April 01
Date |
ET |
Economic Report |
For |
Estimate |
Actual |
Prior |
Impact |
| Mon. March 28 |
08:30 |
Personal Income |
Feb |
0.4% |
0.3% |
1.2% |
Moderate |
| Mon. March 28 |
08:30 |
Personal Spending |
Feb |
0.6% |
0.7% |
0.3% |
Moderate |
| Mon. March 28 |
08:30 |
Personal Consumption Expenditures and Core PCE |
Feb |
0.2% |
0.2% |
0.1% |
HIGH |
| Mon. March 28 |
08:30 |
Personal Consumption Expenditures and Core PCE |
YOY |
NA |
0.9% |
0.8% |
HIGH |
| Mon. March 28 |
10:00 |
Pending Home Sales |
Jan |
0.3% |
2.1% |
-2.8% |
Moderate |
| Tue. March 29 |
10:00 |
Consumer Confidence |
Mar |
65.0 |
|
70.4 |
Moderate |
| Wed. March 30 |
08:15 |
ADP National Employment Report |
Mar |
210K |
|
217K |
HIGH |
| Thu. March 31 |
08:30 |
Jobless Claims (Initial) |
3/26 |
383K |
|
382K |
Moderate |
| Thu. March 31 |
09:45 |
Chicago PMI |
Mar |
69.5 |
|
71.2 |
HIGH |
| Fri. April 01 |
08:30 |
Non-farm Payrolls |
Mar |
185K |
|
192K |
HIGH |
| Fri. April 01 |
08:30 |
Unemployment Rate |
Mar |
8.9% |
|
8.9% |
HIGH |
| Fri. April 01 |
08:30 |
Hourly Earnings |
Mar |
0.2% |
|
0.0% |
HIGH |
| Fri. April 01 |
08:30 |
Average Work Week |
Mar |
34.3 |
|
34.2 |
HIGH |
| Fri. April 01 |
10:00 |
ISM Index |
Mar |
61.4 |
|
61.4 |
HIGH |
|
|