"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Monday, April 29, 2013

Mobile Banking Security - April 29

PNC Weathers Slowdown in Online, Mobile Banking
"PNC weathered a slowdown in its online and mobile services Friday that left some customers unable to access their accounts. The Pittsburgh-based company in the morning took to social media to tell customers it was investigating the problem and working to restore access for all customers. As of Friday afternoon, the bank continued to look for the cause of the disruption. "We do not have more information at this time," PNC said in a message posted on Facebook. PNC spokeswoman Marcy Zwiebel said that some customers continued to be able to log in to their accounts while others experienced difficulty."

Banking Trojans wreak havoc on mobiles
"Trojans continue to wreak havoc on mobiles, as banking transactions are increasingly being conducted on these devices. So said Ann Johnson, RSA Security’s VP for global identity protection and verification, in an interview with ITWeb yesterday. 'By and large, most of our customers today are talking about mobile banking security. The growth in mobile is expected to be about 76% this year, and mobile banking applications have started dominating the market. One of our biggest concerns in that area is Trojans,' Johnson said."

Mobile Banking on the Rise, but Security Concerns Linger
"Consumers are embracing the convenience of mobile banking solutions. A new survey by the Federal Reserve Board found that 28 percent of all mobile phone owners used their devices for banking at least once in the past 12 months. That’s an increase over 2012, when 21 percent used their mobile devices for banking. Naturally, smartphone users have a much higher mobile device banking rate than non-smartphone users. Forty-eight percent of all smartphone owners banked on their mobile phones at least once, up from 42 percent in 2012. The vast majority – 87 percent – of active mobile consumers use their devices for simple tasks like checking balances and reviewing recent transactions."

Mobile malware and your money
"According to the international software house for anti-virus security solutions, G Data Software AG, on average 6 915 new malware strains were created every day in the second half of 2012. According to the report, the number of new malware strains in the tools category, which includes online banking tools, has increased enormously in 2012. Malware is software that is intended to damage or disable computers and mobile devices and includes viruses and Trojans, for example. And the prevalence of malware on mobile devices is increasing rapidly. According to the mobile security company NQ Mobile’s latest security report malware on mobile increased 163% in 2012 compared to 2011."

Action Line Consumer Alert: The dangers of mobile banking
"It’s convenient to make banking decisions or move funds from the palm of your hands, but beware. 'So a couple of quick mobile banking tips in one, always password protect your phone. Two, always delete any text messages that a financial institution sends to you, if they do that,' says Timothy Caminos of the Hawaii Better Business Bureau Hawaii. Caminos says another thing you can do to stay safe, always log out or sign off from an application."

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