Poison text messages and malicious mobile apps on the rise
"Nearly one in five mobile phone users have experienced some type of security threat with their device. That's the finding of a Cloudmark survey of 1,000 cellphone users, scheduled to be released Tuesday. Poison text messages, nearly non-existent in the U.S. a few years ago, grew 300% in 2010 and 400% in 2011, accounting for about 1% of all text messages. 'We've gone from totally clean to a trickle,' says Rachel Kinoshito, head of Cloudmark's security operations. 'Most people are seeing about one a month.'"
Mobile Banking Security Risks on a Jailbroken iPhone Are Preventable
"Jailbreaking an iPhone can lead to security risks for mobile banking users who are not vigilant about what apps they download, according to new research from New York-based Corporate Insight. "Jailbreaking" is a term used to describe by passing a smartphone's standard software in order to download software not sanctioned by its maker -- in this case Apple. Corporate Insight said that while there are risks associated with utilizing a jailbroken iPhone, they are preventable and easily managed. "Not unlike the precautions investors should take when banking online with a personal computer, safely utilizing a jailbroken iPhone only requires the user to thoroughly research new programs and monitor their iPhone settings," the company said in a news release."
Top Risks of Mobile Banking
"As new mobile banking applications hit the market, Julie McNelley says it will be critical for banking institutions to have cross-channel monitoring to mitigate risks. 'As we see mobile banking rolled out, it's going to represent many of the same threats and risks that online banking [has] in the business environment,' says McNelley, a fraud analyst with Aite, during an interview with BankInfoSecurity's Tracy Kitten [transcript below]."