Mobile Banking Security - Feb 22

Google, Citi discover first-mover advantage comes with a price
"The mobile industry let out a big “oops” this week when flaws were exposed in mobile applications from Google and Citi that put consumers at risk, suggesting that the rush to be first in mobile payments and mobile banking may come with a price. Two security flaws were identified last week in the Google Wallet mobile payment app that potentially let hackers access consumer accounts."

Fraud: The Latest Threats
"What are the top emerging fraud threats via mobile banking, and how must security leaders respond? In an RSA Conference preview, Julie McNelley of the Aite Group offers tips for fighting the newest threats. By 2014, Aite Group estimates 44 million consumers will be using some form of mobile banking. And as more institutions roll out mobile banking and payments, more consumers will jump on the mobile bandwagon, making mobile banking an increasingly inviting target for fraudsters, McNelley says."

Support Grows for Mobile Banking Apps, But Security Still a Concern
"Mobile banking applications enable smartphone and tablet users to do everything from scan and deposit checks to transfer large amounts of money, but many consumers and business professionals remain concerned about the safety of using such apps."

Fraud Fight: How to Pick Your Battles
"From mobile malware to the Anonymous hacktivist attacks, how can banking institutions tackle the changing threat landscape? Joe Rogalski of First Niagara Bank has some new ideas. One of the challenges: Proactive risk assessment often takes a backseat when banks and credit unions feel pressure to quickly launch new offers like mobile banking."