Understanding Mobile Device Security

IN THIS ARTICLE

• Protect Your Devices
• Download Apps Carefully
• Update Your Software
• Spot Phishing and Smishing
• Use Public Wi-Fi Carefully

Mobile devices have become standard for both business and personal use, but many remain open to exploits as technology evolves rapidly. With an estimated 310 million smartphone users in the United States, these devices are an attractive target for criminals.¹ Your phone likely holds account logins, banking apps, and personal messages, which makes the information on it valuable.

All devices that contain sensitive information should stay protected. The encouraging part is that a few consistent habits can go a long way toward keeping your financial data out of the wrong hands.

Protect Your Devices

It is always a good idea to protect mobile devices, because they provide direct access to sensitive information. Adding a distinctive password, PIN, or pattern reduces the chance of unauthorized access if the device is lost or stolen. A six-digit PIN can be sufficient when the device is set to wipe itself after a set number of incorrect attempts.

Here are a few good tips to help keep your devices protected:

• Require a password that must be entered every time the device restarts.
• Always lock your device when it is not in use, and set it to lock automatically after a short period.
• Consider adding mobile device security software to the device.
• Limit sharing your information, and be selective about who can access your device.
• Erase all data on the device before resale or disposal.

For accounts that support it, turn on two-factor authentication. Authentication apps or hardware security keys offer stronger protection than codes sent by text message, which can be intercepted. These habits also complement the broader ways you can protect your identity and information online.

Download Apps Carefully

Always go to official app stores to download new apps, and consider removing old apps you no longer use. Official stores review submissions before they reach users, which adds a layer of screening that informal sources do not provide. Even within official stores, it still helps to look closely before you install anything.

Before downloading an app, take time to review the comments and ratings associated with it. Be wary of apps with numerous negative reviews or complaints about app security. Check the permissions an app requests and pause if a simple app wants access to your contacts, messages, or other features it does not seem to need. If an app asks for more than it requires, that can be a reason to look for an alternative.

Update Your Software

Updating software to the latest version is an essential step for protecting your device. Criminals exploit known vulnerabilities in software, and using up-to-date versions addresses those flaws, which lowers the risk to the device. The simplest approach is to turn on automatic updates, so your operating system and apps stay current without you having to remember. If automatic updates are not available for a particular app, checking on a regular schedule, such as weekly, helps keep everything current.

Spot Phishing and Smishing

Criminals use emails and text messages to try to steal your passwords, account numbers, or Social Security number, a practice known as phishing. When the attempt arrives by text, it is often called smishing. The scale of the problem is significant. In 2024, consumers reported losing $470 million to scams that started with text messages, more than five times the amount reported in 2020.² The following year, imposter scams alone led to more than 1 million reports and $3.5 billion in reported losses.³

Common warning signs include urgent language, requests for personal information, unexpected links, and messages about fake package deliveries or unpaid tolls. A message that pressures you to act immediately or threatens a penalty is often a sign of a scam. When an alert about your account arrives, open your banking or financial app directly rather than tapping a link in the message. If a message seems off, forward it to 7726 (SPAM) and report the attempt to the FTC. Learning to recognize phishing and other online threats helps you respond with confidence.

Use Public Wi-Fi Carefully

Public Wi-Fi networks can expose your personal information to others on the same network, which makes them a risky place to access financial accounts. A practical habit is to avoid logging into banking or investment apps on public Wi-Fi, and to disable Wi-Fi when you do not need it. If you must use a public connection, a reputable virtual private network can encrypt your traffic and add a layer of separation between your data and the network.

Waiting until you are on a secure network takes only a moment, and it removes a common route criminals use to intercept sensitive information. Pairing this habit with the others above builds a set of practices that work together to help keep your financial data protected wherever you go, and LPL Financial’s Cyber Fraud Guarantee reflects a similar commitment to account protection.