Easy Solutions Helps Fight Mobile Banking Fraud with Detect Safe Browsing (DSB) 4.0, Now Available for iPhone and Android
"Easy Solutions, the Total Fraud Protection(R) company, today released Detect Safe Browsing (DSB) version 4.0. With DSB 4.0, financial institution can provide an important additional layer of fraud prevention to the end-user, to better protect against malware and other sophisticated threats such as, pharming, man-in-the-middle (MITM) and man-in-the browser (MITB) attacks. With DSB 4.0, Easy Solutions now extends this support to the two most popular mobile platforms: Android and iOS, ensuring that over 90%(1) of mobile users can securely access their mobile banking accounts."
Threat of the Week: Time to Disconnect Android Phones?
"The news could not get worse. A week ago security firm BlueBox announced it had found a “master key” vulnerability – affecting 99% of Android phones – that theoretically would enable a cybercriminal to transform just about any app into malware. On its face, that says almost all Android phones are ticking time bombs and so the rumbling has started that just maybe credit unions and other financial institutions should politely but firmly advise their members to take their Androids elsewhere."
Banks Work Against Fraud Issues with Mobile Check Deposit
"The mobile banking feature that allows customers to deposit checks using their smartphones is now available at many banks and credit unions. Several readers have commented about the potential of fraud and abuse with this service. For example, how will banks prevent scammers from depositing a check into multiple accounts? This American Banker article, Mobile Check Deposit Boom Brings Risks, has an interesting review of the issue."
Banking Criminals Zero in on Cellphones
"Plain facts: more of us are doing a lot more reading of email, surfing of web pages and clicking on text messages on smartphones than ever before - duh. Obvious of course. What is not so obvious is that cybercriminals are connecting the dots, and they are zeroing in on the heightened vulnerabilities that come with reading on a small screen that can be downright peculiar in how legibly it shows text in lighting that is less than perfect."
Showing posts with label mobile check deposit. Show all posts
Showing posts with label mobile check deposit. Show all posts
Wednesday, July 24, 2013
Tuesday, July 16, 2013
Mobile Banking Security - July 16
New Report: Consumers Say Security No. 1 Concern in Mobile Banking
"Security fears are the no. 1 barrier banks must face when introducing mobile banking to customers, according to a recent survey conducted by Monitise, which found that 70% of the respondents viewed security as a major concern in mobile banking. The survey also found that 71% of respondents ranked security as “highly important” in choosing or switching banks. Roughly 90% of users say they enter a user name and password to access mobile banking apps. Approximately half prefer to combine user name/password with knowledge-based answers and visual keys. And 68% indicated biometric features are important to them, while 35% say they are willing to pay extra for those features."
Fake CommBank Android security app targets mobile customers
"Online criminals are peddling a new mobile banking scam designed to bypass the Commonwealth Bank’s SMS authentication process for online transactions, by intercepting text messages and hijacking verification codes. Russian forensics firm Group-IB has uncovered the mobile banking trojan “hardcore88” being sold on Russian-language underground forums for Android devices. The trojan poses as a security app from CommBank, and is designed to block calls from the victim’s bank and capture incoming SMS messages that would otherwise carry the one-time verification passcode required to complete an online transaction."
Mobile Check Deposit Boom Brings Risks
"Mobile check deposit, once a low priority technology for banks, has become one of the most sought out mobile banking app features. But along with popularity and increased use, the potential for fraud is emerging for smartphone check deposits. A recent report from ath Power Consulting identifies remote deposit capture as mobile banking users' most desired app feature."
New Breed of Software Detects Malware from a Distance
"The biggest security threat banks face — malware that pervades their online and mobile banking users' devices — is being met by an increasingly sophisticated class of software called clientless malware detection. Mobile malware increased more than 600% in the past year, according to a recent survey from Juniper Networks — the number of malicious mobile apps has grown to 276,000."
Better Business Bureau: Mobile banking requires safeguards
"I listened intently as my wife worked her cellphone, punching in numbers, speaking to an automated answering system and entering verification codes. 'Make a payment,' she said in a loud, monotone voice. She completed her transaction, and I interjected: 'I thought you said you'd never use your cellphone to do your banking.' Her reply? 'Everything is getting safer in banking with mobile devices. Why not?'"
"Security fears are the no. 1 barrier banks must face when introducing mobile banking to customers, according to a recent survey conducted by Monitise, which found that 70% of the respondents viewed security as a major concern in mobile banking. The survey also found that 71% of respondents ranked security as “highly important” in choosing or switching banks. Roughly 90% of users say they enter a user name and password to access mobile banking apps. Approximately half prefer to combine user name/password with knowledge-based answers and visual keys. And 68% indicated biometric features are important to them, while 35% say they are willing to pay extra for those features."
Fake CommBank Android security app targets mobile customers
"Online criminals are peddling a new mobile banking scam designed to bypass the Commonwealth Bank’s SMS authentication process for online transactions, by intercepting text messages and hijacking verification codes. Russian forensics firm Group-IB has uncovered the mobile banking trojan “hardcore88” being sold on Russian-language underground forums for Android devices. The trojan poses as a security app from CommBank, and is designed to block calls from the victim’s bank and capture incoming SMS messages that would otherwise carry the one-time verification passcode required to complete an online transaction."
Mobile Check Deposit Boom Brings Risks
"Mobile check deposit, once a low priority technology for banks, has become one of the most sought out mobile banking app features. But along with popularity and increased use, the potential for fraud is emerging for smartphone check deposits. A recent report from ath Power Consulting identifies remote deposit capture as mobile banking users' most desired app feature."
New Breed of Software Detects Malware from a Distance
"The biggest security threat banks face — malware that pervades their online and mobile banking users' devices — is being met by an increasingly sophisticated class of software called clientless malware detection. Mobile malware increased more than 600% in the past year, according to a recent survey from Juniper Networks — the number of malicious mobile apps has grown to 276,000."
Better Business Bureau: Mobile banking requires safeguards
"I listened intently as my wife worked her cellphone, punching in numbers, speaking to an automated answering system and entering verification codes. 'Make a payment,' she said in a loud, monotone voice. She completed her transaction, and I interjected: 'I thought you said you'd never use your cellphone to do your banking.' Her reply? 'Everything is getting safer in banking with mobile devices. Why not?'"
Subscribe to:
Posts (Atom)
