Mobile Banking Security - Dec 17

Android banking Trojans were in Google Play store
"Mobile banking Trojans for Android devices, disguised as real banking apps, have made their way into the official Google Play store, where at least one was up until earlier this week. Once a user downloads and launches one of the malicious apps, which are all variants of the CitMo Trojan, the app prompts users to enter their phone numbers. Then users are asked to enter a 5-digit code they receive via text message."

Crime hits mobile banking
"ARIOUS estimates have placed the number of economically active South Africans without bank accounts at almost a quarter of the population. In contrast, the majority of people have access to cellphones, highlighting the potential for mobile financial services similar to Kenya's M-Pesa. Locally such services have failed to gain the same sort of traction as the wildly successful Kenyan operation - which allows users to make a range of transactions using text menus and - mainly as a result of differences in access to conventional financial services."