Mobile Banking Security - July 30

5 ways to keep your mobile banking safe
"More consumers are buying smartphones, but they’re not embracing mobile banking at the same pace — mostly because they have a misplaced fear of it, according to a survey released Tuesday."

Is Mobile Banking Safe?
"It's the newest thing for your Smart Phone -- still, security concerns keep a lot of people from mobile banking. While banks are doing their part, some experts says a Smart Phone is only as safe as the consumer using it. It didn't take long to find someone who uses mobile banking."

How to Get Over Mobile Banking Fears
"Don’t fear mobile banking. More consumers are buying smartphones, but they’re not embracing mobile banking at the same pace – mostly because they have a misplaced fear of it, according to several studies by research firm Javelin Strategy & Research. In 2009, 26% of smartphone owners were uncomfortable using their phones for banking. A year later, that number jumped to 40%, according to the firm."

Research and Markets: Smartphone Banking Security: Mobile Banking Utilization Stalls On Consumer Fears
"Mobile banking adoption has stagnated despite explosive growth in smartphone adoption from 2009 to 2011. In 2009, one in four smartphone owners considered mobile banking unsafe. One year later, 40% of smartphone owners felt the same way. As financial institutions push forward, offering innovative and convenient financial options to a new mobile generation, consumers are left questioning whether security was sacrificed in the rush toward innovation. In the context of the recent infiltration of malware into the Android Market, it is imperative that FIs reassure consumers that mobile security is a priority."

Don't bank on your phone to evade virus
"No one knows who lies behind Zeus, the notorious malware. Security experts believe he or she is Russian, but no one is completely sure. But what they all agree is that Zeus is the most pernicious "trojan horse" - a destructive program disguised as an application - on the internet. During the last four years it has infected millions of PCs, taking control of the computer and stealing personal banking details."