Mobile Matters

Possible vulnerabilities in mobile devices and applications
To be or not to be mobile, that is the question. Either way, you've got a problem.
Thirty-two percent of U.S. adults bank online via their mobile phones, according to the Pew Research Center. Last year, Juniper Research reported there were 590 million mobile banking users and expects the number to hit 1 billion by 2017.


Need help running all this mobile banking? There's an app for that. Aye, there's the rub. Sometimes mobile apps-both iOS and Android apps-have vulnerabilities that could provide attackers with personal identifiable information of your community bank's customers, including the current location of their mobile devices. Insecure Web apps and mobile apps can allow attackers to intercept customer data and sensitive company data in transit and at rest.

Mobile applications
Having conducted several tests on hundreds of mobile banking applications, security researchers have discovered many of them are susceptible to various attacks. Banking applications generally use SSL encryption for securely transporting private documents via the Internet, but 90 percent of the tested apps initiated several non-encrypted connections during their operation. This could allow an attacker to intercept traffic and create a fake logon prompt.


Meanwhile, cybercriminals create and make available in third-party stores versions of banking apps that look and act just like authentic banking apps, except they have malware hidden in them. To prevent its customers from having their personal financial information stolen, your bank should advise its customers to go only to your home page and click on a button that sends them directly to either the Apple or Android store to download your bank's mobile app.

Mobile malware
No mobile device, whether company issued or otherwise, should ever be allowed to connect to your network in any manner because if there is any malware on the mobile device, it could infect your bank's network. …
 
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