Security in banking apps

How to hide banking apps and increase mobile security

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See how to protect mobile banking apps, blocking access, hiding and applying practices to stay safe in case of theft

We live in a world that is increasingly dependent on the internet and smartphones, technologies that have become our allies and make our daily lives easier. They also brought new ways of dealing with money and taking care of our financial life. Currently, all major banks operating in the country have apps with facilities for their customers. With them it is possible to pay bills, transfer money, invest in resources and easily access bank information, such as statements, for example.

However, the technology has also opened the door to opportunists. It is not uncommon for cases of cell phone theft to invade financial applications or people who had their accounts hacked after opening a malicious email, for example. Despite the growing number of bank account break-ins and scams, a few simple procedures can help make life difficult for criminals. In this matter, we separate some tips to increase security in banking apps. Check it out!

Internet Banking in Brazil

Brazilians are increasingly distant from traditional bank branches. With the emergence of internet banking and mobile banking, many customers gave up the queues and passwords and started to solve their pending issues through the smartphones. According to the study on changes in consumption habits of financial services in the face of new technologies prepared by the company IDC, six out of ten Brazilians in the A, B and C classes use digital means of payment, such as their own apps — PayPal, Insurance e Google Pay — to bill payment, purchase and transaction channels over the Internet.

Security in banking apps - mobile bank
Transactions carried out in mobile banking have already represented more than half of operations in Brazil (Reproduction/Internet)

Another research published by the CIAB Febraban in 2021, shows that, for the first time, transactions carried out through mobile devices represented more than half (51%) of the total operations carried out in the country in 2020. The number of transactions carried out through mobile devices reached 52,9 billion , up from 37 billion in 2019.

Together, the digital channels (internet banking e mobile banking) account for 67% of all transactions (68,7 billion) and are responsible for 8 out of 10 bill payments, and 9 out of 10 credit contracts. Among the 21 banks that participated in the survey carried out by the agency, 8 responded that 7,6 million accounts were opened through digital channels, an increase of 90% compared to 2019.

The survey also revealed that transactions with financial transactions made by the smartphone registered a 64% jump in 2020, mainly driven by the pandemic and the emergency aid created by the Federal government to help families during the period. Also according to the data, practically all operations available to bank customers through smartphone grew in 2020, the main ones being: investment contracting (+63%), transfers/DOC/TED (+60%), bill payments (+51%) and credit contracting (+44%).

Security in banking apps - pix
The PIX has had overwhelming growth since the beginning of 2022 (Playback/Internet)

Another electronic means of instant payment that has also shown overwhelming growth is the Wise App or PayPal (+ taxes). Created by central bank in 2020, in one year it became the second preferred payment method for Brazilians, behind only credit and debit cards. The payment method is also considered the most reliable by Brazilians. According to research by Fiserv, 66% of Brazilians believe that the means of payment is safe, in front of cash (57%), barcode (57%) and chip card in the machine (56%).

What are the main scams used in banking applications?

With the growth in the use of banking apps on cell phones and mobile devices, there have also been several scams that aim to get sensitive user data and thus access banking apps. Therefore, it is important to be very attentive to the sharing of information and the registrations made. Check out the main scams that occur online!

A common scam is sending fake links via email or social media that contain false information such as “your card is blocked, please update your details to unlock”. Many unsuspecting users end up accessing these left-wing and providing personal data, such as full name and CPF or bank details, such as card numbers, passwords and security codes. In addition, some links may contain viruses that steal data and allow scammers to access your accounts.

WhatsApp scam

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Scammers try to clone the victim's WhatsApp (Playback/Internet)

When criminals have the victim's name and cell phone number, they try to clone yours. Whatsapp. With this data in hand, they contact the person's acquaintances, pretending to be a Customer Service Center and ask for the security code that will arrive by SMS to perform any procedure for updating or maintaining a record. If the person informs the code, they clone the Whatsapp and with access to the victim's contacts, impersonate her asking to borrow money.

Fake Call Center

As in the coup Whatsapp, scammers in possession of the victim's name and number contact them posing as the Customer Service Center of a bank or company with which they are registered. In this case, they ask for confirmation of personal and financial data and use this information to apply for loans or register credit cards. (hippainhelp.com)

Tips to increase security in banking apps

To increase the protection of your device and avoid app scams, you need to be aware of various settings and even perform some tricks. This will not only increase security in banking apps but also protect your personal data and prevent further fraud on your behalf.

Lock screen and passwords

Banking app security
In addition to registering your biometrics, register only strong passwords (Playback/Internet)
  • Activate the automatic lock of your smartphone for the shortest possible time after use, 10 or 15 seconds. Locking your cell phone quickly will make it more unlikely that the thief will find your cell phone unlocked;
  • In addition to registering your biometrics, register only strong passwords. Avoid number sequences, birthdays or repeated passwords;
  • Also register a security PIN on your cell phone chip, so you will need to enter this code to make calls or receive SMS after restarting your device;
  • As it is not recommended to use the same passwords for all apps, it can be difficult to remember all passwords. However, do not save these passwords in messages or notebooks on the device itself. Consider using Password Manager, such as SafeInCloud Pro, in this way, it will only be necessary to remember one password to access the others;
  • Do not use the “remember/save passwords” feature in your browsers and websites. smartphone;
  • Do not use your main email — the one you use on your cell phone — as a password recovery email. Create a secondary email account, just for this function, and leave it only on the computer. This way, no one will be able to change your passwords using just your smartphone;
  • To further improve security, enable XNUMX-Step Authentication in your apps. It is possible to do this in Twitter, Whatsapp, Facebook, Instagram and even in gmail. Find out how by checking out our tutorials.

Hide or block your banking apps

Several manufacturers have a “secure folder” feature that hides applications that can only be accessed through passwords or fingerprints. There are also specific apps for these functions that can be easily downloaded from PlayStore. In this way, it is not necessary to have a second cell phone, because this can make transactions in safer banks that use your location to prevent other types of access to your account unfeasible.

Appblock is a blocking app that can be used on any android device (playback/appblock)
AppBlock is a blocking app that can be used on any Android device (Playback/AppBlock)
  • on mobile Samsung, go into settings and look for the “Secure Folder” option. After activating, the phone creates a separate area for you to save banking apps (and other apps you prefer to keep secret), which can only be opened with a PIN or Fingerprint;
  • Our iPhone, you can hide apps by going to “Settings”, then “Siri and Search”, find your bank app and disable the option “show on home screen”;
  • on cell phone Xiaomi You can hide and lock apps, so they can only open with a fingerprint. Go to the “security” app and search for “app blocking”, follow the configuration. And then search for “hide apps”;
  • on mobile Xiaomi You can also enter the app drawer and swipe twice from the left corner of the screen to the right to enter a “secret app area”, which is locked by password or fingerprint. Hide banking apps there;
  • O app block is a lock app that can be used on any Android device to lock any app with a password or fingerprint, including banking apps. After installing, just choose what you want to protect to avoid app scams. It is also possible to hide photos, videos and other files.

Tips for banking apps

Banking app security
Do not use bank apps that do not have biometric authentication or access PIN (Playback/Internet)
  • If you still choose to use the same passwords for many apps, choose at least different passwords for banking apps;
  • keep in your smartphone only banking apps that you actually use. Deleting old apps and accounts prevents loan scams;
  • Do not use bank apps that do not have biometric authentication or access PIN, they are not secure;
  • Reduce your daily limits on credit cards and withdrawals or transfers via PIX;
  • Change your credit card once a year. You will protect yourself from unauthorized uses and even review automatically charged services.

Other important tips

Banking app security
Avoid accessing your banking apps in public places (Playback/Internet)
  • Keep your phone's operating system always up to date, so it will be more protected;
  • do not use your smartphone with the window open when in the Uber or on public transport;
  • Avoid accessing your banking apps in public places. Prefer to use them only in safe places if possible;
  • Only use a credit card in shopping apps such as iFood, Uber, Magalu or Mercado Livre. This way it will be easier to cancel.
  • If you are making a one-off purchase, prefer to use the Virtual Card from your bank, so the security code will be changed after purchase.

What to do if your cell phone is lost or stolen?

After theft, theft or even the loss of your smartphone it is necessary to remain calm and carry out a series of measures as soon as possible to make it inaccessible and prevent possible scams in your banking apps. And attention, it is very important that you follow this order:

Erase data remotely

Erasing all data from your smartphone is the first step to take. This can be done remotely using another smartphone or a PC.

Android

Visit android.com/find and perform the login with your Google Account registered in your smartphone.

Banking App Security - Erase Device Data
Go to android.com/find and login with your Google Account (Playback/Showmetech)

Then, click wipe device. Now all your data will be erased from your device, preventing them from accessing your personal data and your apps.

Banking App Security - Erase Device Data
Click Wipe Device (Playback/Showmetech)

There you can also play a sound so you can check if your device is nearby, or lock the device and log out of your account. However, if it is not a case of loss of device, the ideal is that you protect yourself by erasing your data.

iPhone

If your device is iOS, the procedure is similar. access icloud.com, Click Search iPhone and confirm your session.

Banking App Security - Erase Device Data
Go to icloud.com, click Find My iPhone (Playback/Showmetech)

then in Delete iPhone ou iPad, if this is the device used.

Banking App Security - Erase Device Data
Click Erase iPhone/iPad (Playback/Showmetech)

In both cases, it's possible to emit a sound so you can check if your device is nearby, or lock your cell phone and log out of your account (lost mode in iOS). However, if it is a case of a stolen cell phone, it is best that you protect yourself by erasing your data.

Inform the bank that the device was stolen

After remotely formatting your device, you need to call your bank branch and inform and ask for the account lockout reporting the theft (or theft or loss) of your device. After the contact, if there is any improper transfer, the responsibility is no longer yours and becomes the bank's.

Request phone line lock and IMEI

Now you can call your carrier and ask them to block your phone line due to loss or theft — be careful, don't do this before erasing your phone's data. smartphone, because without internet, it will not be possible to format the device — and also ask for the blocking of IMEI (International Mobile Equipment Identity) so that the device is blocked from accessing mobile networks or making calls on other operators. The carrier numbers are:

block imei
Blocking the cell phone using the IMEI will prevent access to mobile networks and calls (Playback/Showmetech)
  • Claro: 1052 (for calls from any telephone);
  • Nextel: 1050 (for calls from any telephone);
  • Oi: 1057 (for calls from any telephone);
  • TIM: *144 (only for TIM cell phone calls) or 1056 (from any phone);
  • Vivo: *8486 (only for calls made from a Vivo cell phone) or 1058 (from any phone).

File a police report

O Incident report can be made at police stations or even online. It will protect your rights if a crime occurs against you or on your behalf and will also help the authorities to identify possible scams.

But, after all, are banks also responsible?

Despite the fact that many banking institutions claim that they do not have any responsibility in case consumers are targets of scams by criminals, the Consumer Defense Institute (Idec) affirms that banks have responsibility, yes, since they are the ones who must guarantee the security of applications and financial operations. The agency also says that, if the victim has amounts subtracted from their accounts in a criminal way, she has the right to ask for compensation for any damage.

The consumer can and must contact the bank to be reimbursed, also because the bank has all the technological apparatus to identify successive transactions or in considerable amounts that are outside the person's pattern, and is able to block this type of transaction.

Michel Roberto de Souza, Idec's lawyer.

According to Michel Roberto de Souza, Idec's lawyer, it is the bank's responsibility to prove that there was no internal security failure and that the client was solely at fault. Also according to him, people who face any type of conflict of this type with their bank can also file a claim against the financial institution in the Central Bank website and also in the Procon.

There is also always the possibility of filing a lawsuit in the special small claims court and, in the amount of up to 20 minimum wages, the person does not need to be accompanied by a lawyer, and can go to the court in person.

Michel Roberto de Souza, Idec's lawyer.

See also other features

Data leakage in Brazil decreases by 31% in 2021 compared to previous years.

Sources: G1, CNN.

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