Mobile Banking Security Regulations

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Mobile banking is one of the best developments that technology has brought with it. Financial institutions and business people constantly need to make transactions across states and countries. Mobile banking has made things a lot easier but has also raised concerns about security to ensure best practice. It is a revolution in the conservative world of payments.

With the ease of access, the ratio of fraudulent mobile banking transactions has increased. Therefore, there are certain best practices for mobile banking security people can put into practice for convenience.  Additionally financial and business institutions are being encouraged to comply with regulations imposed by the federal government in order to keep a check on transactions.

Therefore, compliance with mobile security regulations is a best practice required by any business and financial institution using mobile banking.

Further reading: Corporate Governance | Audit | Performance Improvement

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