How safe is your banking app?

Convenient, easy to use and in your pocket - mobile banking apps have made everyday banking more accessible than ever for millions of us, but how safe is your banking app?

Person authenticating their account with two factor authentication
(Image credit: © Getty Images)

More than 29,000 cases of remote banking fraud were reported to UK Finance in the first half of 2022, with scammers gaining access to bank accounts via internet, telephone or mobile banking and making an unauthorised transfer of money from the account.

It’s a boom time for app-based banking, as more and more local bank branches close. And apps should be the more secure option, unlike websites, fewer viruses and malware are created to attack apps.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Explore More
Adam French

Adam has been a personal finance and consumer journalist, editor and commentator for several years, working to save you money and protect you from scams.

His work has appeared in the HuffPost, Which?, i paper and This is Money, plus various TV and radio programmes, which include Rip Off Britain, 5 News, and Newsround, to name a few.

Adam was previously personal finance editor at MoneyWeek' sister site, The Money Edit, and before that he was the senior consumer rights editor at Which? He is currently senior editor at NerdWallet.

Adam has an LLB degree from the University of East Anglia. When he isn't working he's out walking his dog, or watching Norwich City yo-yo between leagues.