Mobile Banking Security - Apr 11

New security flaws detected in mobile devices
"Findings of two recent examinations of mobile devices highlight how designers of smartphones and tablet PCs failed to fully account for security and privacy implications. 'Today's smartphones and tablet devices perform the same functions as a PC,' says Dan Hoffman, chief of mobile security at Juniper Networks. 'However, the vast majority of devices lack security software and mistakenly rely upon the operating system to keep people safe.'"

Are your mobile banking apps safe?
"How safe are your mobile banking apps? Not very, based on the findings of a 2011 study by digital forensics and security firm, viaForensics. According to the study, 25% of the mobile banking apps tested didn’t provide adequate security: passwords, partial credit card details, payment history and transaction details were easily retrieved from the handset."

Mobile malware on the rise
"Threats posed by mobile devices are increasing at a tremendous rate, as fraudsters are becoming more successful in infecting hundreds of thousands of these devices. So say security experts, who also point out that hackers and criminals are increasingly targeting mobile devices to steal banking information because consumers are moving more and more of their banking and shopping activities onto these devices."