Mobile Banking: The New Risks

[InfoSec News <alerts () infosecnews org>]

http://www.bankinfosecurity.com/articles.php?art_id=4047

By Tracy Kitten
Managing Editor
Bank Info Security
September 13, 2011

Phishing attacks aimed at online PC users won't be the financial 
industry's greatest worry in the near future, says Dr. Markus Jakobsson, 
security expert in the field of phishing and crimeware. Malware 
targeting mobile devices will be.

Jakobsson, who has spent the last several months analyzing the current 
state of current mobile security, says mobile vulnerabilities have 
changed quite a bit over the last 12 months, and most mobile users and 
carriers have no real way to protect themselves from fraudsters seeking 
access to financial accounts.

"Until recently, the smartphone market has been rather small, but in a 
matter of months or at most a year, there will be more smartphones in 
the world than Windows machines," he says. "It goes without saying that 
the offenders will target mobile devices."

That market explosion will lead to greater and more dynamic threats than 
the PC world ever faced, and mobile banking and financial services will 
be prime targets for fraudsters.

[...]


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