Protect your money accounts: SIMs, passwords, backups and money mules

Your phone has become your wallet, your bank and your ID. Losing it, or letting someone else control your SIM or accounts, can mean losing your money. A few habits make your accounts far harder to take over.

Lock down your phone and apps

1. Use a screen lock (PIN or fingerprint) on your phone.
2. Use a different MPIN or password for each money app, and don't use your birthday.
3. Turn on fingerprint or face unlock and login alerts in your bank and e-wallet apps.
4. Keep your phone and apps updated, and install apps only from the official app store.

Keep your SIM safe

Under the SIM Registration Act, every SIM is registered to a person, and your SIM receives the OTPs that protect your accounts. If your phone is lost or your signal suddenly disappears without reason, contact your network immediately to block the SIM, then call your bank and e-wallet. Never give your SIM or registered number to someone else to use.

Never be a money mule

Scammers pay people to 'rent' their bank or e-wallet accounts, or to receive and forward money. It's often offered as an easy job or a favor. Under the Anti-Financial Account Scamming Act, acting as a money mule is a crime, even if you didn't know where the money came from. Never lend, sell or share your account, and never receive money for strangers.

Back up your records safely

If your phone is lost, you want your financial records back but not in the wrong hands. Use encrypted backups with a strong password, store them somewhere only you can reach, and keep a recovery key written down in a safe place.

How to do it in Iponista

1. Turn on App lock in Settings (PIN, and fingerprint on the phone app), and use Hide amounts on Home in public.
2. Use Settings → Your data → Export encrypted backup, and keep the recovery key somewhere safe and offline.
3. Your money data stays on your device, so a strong phone lock is your main protection. Use a unique password for your Iponista account, and check More → Account & security for devices you don't recognize.
4. Review History weekly for transactions you don't recognize in any wallet you track.

Remember this

Lock your phone and apps, protect your SIM, never lend your account, and keep encrypted backups with a safe recovery key.

Do this today

Check that your phone and every money app has its own lock, and make one encrypted backup of your Iponista data.