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Mobile banking security tips

Mobile banking security tips

Cathay Bank has made it safe and secure to manage your bank account from almost anywhere, anytime on your mobile devices with the Cathay Bank Mobile App for iPhone®, iPad® and Android™ devices. However, online security and protection of your identity and personal information is a team effort. Take these additional steps to understand what we do and what you can do to protect your mobile device.


What we do to protect mobile banking

  • We encrypt your personal information such as your user name, password and account information when you send it over the internet. Cathay Bank’s Mobile Banking application and mobile browser will then decode any encrypted information.
  • We apply a number of security devices, checkpoints and procedures such as firewall systems and intrusion detection software, encryption of sensitive information while it is sent over the internet and when stored in our systems, internationally recognized security standards and industry best practices, and the use of application profile and password with context-based multifactor security.


What you can do to protect from mobile banking fraud

  • Do not share your User ID and Password. Prevent unauthorized use and guard your User ID and password. .
  • If your device allows access via your fingerprint, pay special attention to prevent misuse, as it may also give access to your Cathay Bank Mobile Banking app when Touch ID fingerprint authentication is enabled.
  • As a reminder, we will never ask our customers for account numbers, passwords or other sensitive personal information by email, telephone, or text message. Likewise, you should never send sensitive information such as account numbers, Social Security numbers or passwords via email or text message because these are often transmitted over the internet without any protection.


How to protect your device

  • Enable automatic locking mechanisms, such as a trace pattern, a PIN or even using a built-in biometrics reader, to protect your phone when not in use. Mobile devices are easy to carry around, and easy to be lost or stolen.
  • Avoid banking while on public networks like coffee shops, restaurants or at the airport. Public connections are not very secure. If possible, disable the Wi-Fi and switch to your local cellular service provider’s network. Do not allow your device to connect to unknown wireless networks.


How to improve your device’s security

  • Always use the official Cathay Bank App. You can download the official app directly from a trusted repository like Apple Store or Google Play.
  • Keep your smartphone up-to-date. Download and apply security updates provided by Apple and Google. These are designed to provide you with protection from known possible security problems. Update other applications that you use, too, as application publishers are constantly applying security patches along with new versions of their app.
  • Use only well-known app stores such as the Apple App Store and Google Play to download new apps. Download only the apps from well-known publishers and that have high review scores. Every installed app asks for permissions to access your device’s data. Check if these permissions make sense, comparing with what the app is supposed to do.
  • Do not jailbreak (iPhone®) or root (Android™) your phone or otherwise disable its built-in security features. Doing so may make it more vulnerable to malware and viruses and put your private information at risk. 
  • Install an antivirus app and enable password protection if available for your device. Mobile malware and viruses are getting very sophisticated and can capture your private data or even perform unauthorized transactions on your behalf.


Good security habits

  • Never leave your mobile device unattended during an open mobile banking session.
  • Avoid storing private information on your phone. Do not save your login credentials in your device, such as your User ID and password, in memos, images, screenshots, voice records, or your phone’s browser.
  • Be sure to "sign out" once you have completed your mobile banking session. Confidential information from the mobile banking app is not stored on your phone, so when you sign out, your information stays secure. Even if you don't, we'll automatically disconnect you after you've been inactive after a few minutes.
  • Monitor your accounts on a regular basis and report any suspicious activity to your Cathay Bank branch or to the Client Care Center at 800-922-8429
  • If you are selling or discarding your telephone, remember to delete all your device’s data.


Don’t get caught by malware

  • Phishing is the most common cyberscam and is as much of a threat on a mobile device as it is on your computer.
  • Do not open any messages (including SMS, emails, QR codes, and social network apps messages), from an unknown sender, and do not click on unfamiliar or suspicious links. They may trick you to give your personal information in a fake website or unknowingly install a malicious app to capture your personal data.
  • Type the web address in your mobile browser yourself, rather than following a link in a message. That way you know you're visiting the legitimate site.


If your mobile device is lost or stolen

  • Your financial information is not stored in Cathay Bank’s Mobile Banking App Good security habits prevent serious risks when an incident happens. We recommend that you adopt these habits regularly in your daily mobile usage: using an automatic locking mechanism, never leaving the device unattended during a Mobile Banking session, avoid saving personal data (such as credentials) in your device, and signing out to complete a mobile banking session.
  • As an additional precaution after the device is lost or stolen, please change your mobile banking password and the passwords of all other important accounts that you had active in your mobile device, such as the e-mail accounts that you use to register into apps or communicate with Cathay Bank.
  • Increase the frequency that you monitor your bank accounts. If you notice any suspicious activity, contact Cathay Bank immediately.
  • Ask your wireless service provider to deactivate your lost or stolen device and wipe out all its apps and data if possible.


Cathay Bank

Email communication is not secure

Please do not include sensitive information such as account numbers or other personal information such as Social Security or Tax Identification numbers, driver’s license numbers, etc. in any email sent to us via this link.