Hey Rad - Good question!
 
To reduce your chances of falling victim to fraud when you bank online via your smart phone you should:
  • Only download mobile applications directly from your bank, they are free to use and you can download without any reservations about the software.
  • Download any free security software provided by the bank, we all know that having to enter additional passwords can be frustrating but if it prevents an attempted fraud then it could be worth the inconvenience.
  • Install quality security software. Often if you have it installed there is a remote deletion option that means you can delete any data stored on the phone if you discover it’s lost or stolen.
  • Set up your smart phone to be more secure. Use a PIN or password to lock your phone when you’re not using it.
  • Make sure your phone’s browser doesn’t automatically input your passwords or usernames for you.........

    • Read more:     http://www.money.co.uk/article/1005729-is-banking-on-your-smart-phone-safe.htm

    Date: Thu, 10 May 2012 10:40:06 +0300
    From: conradakunga@gmail.com
    To: skunkworks@lists.my.co.ke
    Subject: Re: [Skunkworks] Mobile/online Banking: Android app

    Why would someone use an application for banking that is not from the actual bank?

    On Thu, May 10, 2012 at 10:37 AM, Joseph Maina <mainasoft00@gmail.com> wrote:
    how safe is it? what if your android gets stolen?


    On Wed, May 9, 2012 at 10:43 PM, Bernard Mwagiru <bmwagiru@gmail.com> wrote:
    Android users and KCB customers :  https://play.google.com/store/apps/details?id=Com.kcb&hl=en

    What's your experience with this app?

    ./bernard

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