Mobile Banking : Pros and Cons
IdentityTheft.com reports one of the conveniences that currently has consumers questioning whether it is safe or not is the relatively new practice of banking from one’s cell phone or Personal Digital Assistant (PDA). Banks are now spending big money to advertise the new system which allows account holders to check balances or initiate transfers anytime and from anywhere. Although, identity theft experts aren’t yet panicked, many of them have admitted that it is only a matter of time before thieves find a way to break into this system. Online identity theft is a huge problem that leads to numerous cases of credit fraud and bank account fraud each and every year. Cell phones should expect to encounter some of the same problems.
