Mobile Banking Security - Oct 17

Is Mobile Banking Safe?
"It goes without saying that whenever you need to make important banking decisions, you should do so in a deliberate and informed manner, gathering financial information and documents and then analysing them in detail. Unfortunately, not everyone has the liberty of making every decision in this way though, and there are times when taking banking decisions on the move may seem necessary. Whether or not this is wise really depends on the financial decision that is being made - and how well informed you are leading up to the banking choices in question."

Mobile banking security a top priority
"It's fair to say that mobile banking is (slowly) taking off. All banks now realize that their consumer product lineup will be incomplete if they don't offer a robust menu of mobile services. As of now, just 21 percent of mobile phone users have used a banking app in the past year, according to a Fed study. The ramp-up is being held back just a bit by security concerns. A new survey by Metaforic has found that nearly 70 percent of smartphone owners who have not yet plunged into mobile banking are 'holding back due to security fears.'"

Fortinet Sees Surge In Android Adware, Evolution To Zitmo Mobile Banking Trojan
"Fortinet® − a world leader in high-performance network security – today released its threat landscape research. During the period beginning July 1, 2012 and ending September 30, 2012, FortiGuard Labs researchers reported a marked increase in Android adware, new evidence suggesting that Zitmo (Zeus-in-the-Mobile) mobile banking Trojan is evolving into a botnet and the detection of Romanian hackers performing large scale scanning for Web vulnerabilities."

nProtect Launches Security for Mobile Banking and Payments
"nProtect Inc., a global leader in Internet security solutions, introduces the nProtect Mobile Security for safe mobile banking and payments. The nProtect Mobile Security provides financial institutions and their users with a safe mobile environment for banking and payments against mobile threats including fake apps and malwares to protect valuable personal information and assets."

Security concerns over NatWest mobile banking app
"NatWest bank has suspended its Get Cash app which allows customers to withdraw money from a cash machine without a debit card, according to a report by the BBC. Customers request the cash on their mobile and a 6 digit pin is generated which they then enter at the cash money to withdraw funds."