Skip to main content

# Mobile Fraud

### Learn how to help reduce the risk of fraud on your mobile device.

Protecting your mobile devices

New and sophisticated ways to commit fraud are increasing at an alarming rate. The rapidly growing number of individuals using smartphones for banking has created a new target for cybercriminals to exploit.

Much like online fraud, mobile banking fraud involves fraudsters' attempts to obtain a user's confidential login information — including passwords, personal ID numbers, and token codes — to gain access to accounts and improperly transfer money or commit other fraudulent acts. Mobile banking fraud is often difficult to detect. You may be unaware information has been stolen until the money is gone from your company's accounts.

What you should do to help protect your money

- Protect your login information. Never give your password, PIN or the PIN + token code combination (passcode) to anyone who contacts you by telephone, email, or text message. WF will never contact you to ask for this information.
- Implement dual custody, and use it properly, for online payment and administrative services. Dual custody, when used properly, is one of the most effective fraud deterrents in a layered security approach. Dual custody requires payments and user changes initiated by one user be approved by a second user on a different computer or smartphone before they take effect.
- Be careful choosing apps. Before you download or install a banking app or shortcut on your smartphone, check to make sure it is a genuine, authorized app from your financial institution. iOS® app, is available through the Apple App Store, and the Android® app, is available from the Google PlayTM Store.
- Don't follow links in emails or text messages that claim to be from your financial institution, especially those expressing an urgent need for you to update your information, activate an account, or verify your identity by calling a phone number or submitting information on a website. It likely is a phishing attempt. Go directly to your bank's mobile banking service to do your banking. Forward all suspicious emails and text messages to reportphish@#.
- Monitor online accounts regularly to detect suspicious activity. Immediately contact your WF representative or customer service team and your cell phone carrier if you notice anything out of the ordinary.
- Lock your smartphone when it's not in use, and store it in a secure location. Keypad and phone lock functions password-protect your smartphone so no one else can use it or view your information.
- Delete text messages from your financial institution frequently, especially before loaning, discarding, or selling your smartphone.
- If you lose your smartphone or change your number, protect your account by calling your customer service team and remove the old number from your mobile banking profile.

For more information on how to help protect your company from mobile banking fraud, contact your WF representative.

Report Fraud
Act fast and follow these important steps immediately if you think you or your company might be the victim of a fraud or attempted fraud.
Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iCloud Keychain, iPad, iPad Pro, iPhone, iTunes, Mac, Safari, and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Wallet is a trademark of Apple Inc. App Store is a service mark of Apple Inc.
Availability may be affected by your mobile carrier's coverage area. Your mobile carrier's message and data rates may apply.

Commercial Banking products and services are provided by WF Bank, N.A. and its subsidiaries and affiliates. WF Bank, N.A., a bank affiliate of WF & Company, is not liable or responsible for obligations of its affiliates. Deposits held in non-U.S. branches are not FDIC insured. Products and services require credit approval.

WF Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured.

RO-4935076

LRC-1025

You are leaving the WF website.

You are leaving # and entering a website that WF does not control.

WF has provided this link for your convenience, but does not endorse and is not responsible for the products, services, content, links, privacy policy, or security policy of this website.

You are leaving the WF website.

You are leaving # and entering a website that WF does not control.

WF has provided this link for your convenience, but does not endorse and is not responsible for the products, services, content, links, privacy policy, or security policy of this website.

## Footnote