January 25, 2007
Mobile banking to be targeted by fraudsters
When it comes to fraud and identity theft, one rule remains constant - fraudsters will follow the money. As mobile devices are ramping up incidents of mobile virus and mobile malware are likewise on the upswing.
New research from TowerGroup finds that 2007 will be the year that new banking and payment initiatives in the mobile channel will be increasingly targeted by those engaged in fraud and identity theft, with the goal of infecting or otherwise compromising mobile devices. These targets will include deployments where a mobile device acts as a credit or debit card.
Like malicious software (or "malware") in the wired world, mobile viruses are small programs that infect a host device. While most mobile phones are potential targets, smart phones and wireless PDAs as particularly attractive to fraudsters given their advanced capabilities to support PC-like applications including Web browsing and instant messaging.-TowerGroup believes that current mobile commerce initiatives emerging from the financial services industry lack a reasonable and justifiable focus on mobile malware.
Read the full PR here
New research from TowerGroup finds that 2007 will be the year that new banking and payment initiatives in the mobile channel will be increasingly targeted by those engaged in fraud and identity theft, with the goal of infecting or otherwise compromising mobile devices. These targets will include deployments where a mobile device acts as a credit or debit card.
Like malicious software (or "malware") in the wired world, mobile viruses are small programs that infect a host device. While most mobile phones are potential targets, smart phones and wireless PDAs as particularly attractive to fraudsters given their advanced capabilities to support PC-like applications including Web browsing and instant messaging.-TowerGroup believes that current mobile commerce initiatives emerging from the financial services industry lack a reasonable and justifiable focus on mobile malware.
Read the full PR here
Labels: banking, biometrics, mobile security
