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NerdWallet: Why your mobile device could be the biggest risk to your money

This article is reprinted by permission from NerdWallet.

This year marks a decade since the global financial crisis. Although the biggest financial institutions still dominate the landscape, banking has undergone some changes. The proliferation of smartphones means mobile banking now plays a significant role in how we manage our money. A 2016 Fed survey found that over half of smartphone users with bank accounts used their devices to access their money.

What hasn’t changed since 2008? Con artists.

Ten years ago, identity theft was the No. 1 complaint logged by the Federal Trade Commission. Today, the number of complaints is 20% higher than in 2008.

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