TL;DR
Multiple fingerprints on a device with only one person knowing two passwords creates significant security risks. This guide outlines steps to mitigate these risks, focusing on stronger authentication methods and account monitoring.
Solution Guide: Banking App Logon Security
- Understand the Risks
- Fingerprint Sharing: Anyone with access to the device can potentially use stored fingerprints.
- Password Compromise: If one password is compromised, attackers may attempt brute-force attacks or social engineering on the second password.
- Account Takeover: Successful compromise of both passwords and fingerprint access leads to full account control.
- Most banking apps offer MFA options beyond passwords and fingerprints. These are crucial.
- Options: Consider these:
- One-Time Passcodes (OTP): Sent via SMS, email, or authenticator app (e.g., Google Authenticator, Authy).
- Biometric Authentication (Face ID/Iris Scan): If available and device supports it, add another biometric layer *in addition* to fingerprints. Do not rely solely on biometrics.
- Push Notifications: Approve logon attempts through the banking app itself.
- Setup Instructions (Example): In your banking app settings, look for ‘Security’ or ‘Login & Security’. Enable MFA and follow the on-screen instructions.
- Complexity: Use strong, unique passwords that are at least 12 characters long with a mix of uppercase letters, lowercase letters, numbers, and symbols.
- Password Manager: Employ a reputable password manager (e.g., LastPass, 1Password) to generate and store complex passwords securely.
- Avoid Reuse: Never reuse passwords across different accounts.
- Screen Lock: Always use a strong PIN, pattern, or password for your device screen lock.
- Software Updates: Keep your device’s operating system and apps (including the banking app) up to date with the latest security patches.
- Antivirus/Malware Protection: Install and regularly scan your device with a reputable antivirus/malware application.
- Remove Unnecessary Fingerprints: Delete any fingerprints from the device that don’t belong to the primary user.
- Consider Fewer Fingers: Limit the number of registered fingers for logon. This reduces potential attack vectors.
- Transaction History: Regularly review your banking app transaction history for any unauthorized activity.
- Alerts: Set up email or SMS alerts for transactions above a certain amount, new payee additions, or changes to account details.
- Report Suspicious Activity: Immediately contact your bank if you notice anything unusual.
- For high-value accounts, consider using a dedicated device solely for banking purposes to minimize exposure to other risks.