The smartphones of today are used for much more then checking email, texting, and internet browing. They have evolved into multi-use devices suitable for a variety of daily tasks, including banking. Given the confidential information that is now located on these phones, it is essential that they are protected from viruses and information thiefs.
Here are some simple steps to help ensure your phone's security:
Make sure your smartphone is automatically password-protected after a period of non-use. That way, if you happen to leave it somewhere, thiefs cannot simply access your information. Another step is to limit the amount of times a wrong password can be entered into the phone. Once that limit is hit, all data is erased from the smartphone. This works for iphones, but andriod phones have a similar feature called "autowipe".
Never perform a financial or confidential transaction over a public wi-fi network without encryption (is unsecured).
Disable phone settings like Bluetooth and Location Settings when the phone is not in use. These settings can collect a lot of data and make it easier for hackers to gain access to your phone.
Make sure your phone is equipped with an anti-virus software that offers free and easy upgrades, especially before you start downloading apps.
Don't download any "shady" or "fishy" apps.
Enable a lost locator on your phone, and set up a remote "data wipe" in case of theft.