Mobile banking applications are highly vulnerable to cyber threats, according
to a report released by Positive Technologies. Their analysts found that NONE
of the 14 banking applications tested had acceptable levels of security and were
actually more vulnerable on the server-side than clients. Cyber-criminals will
certainly access sensitive data and steal from these users.
43% of the applications installed stored information on their phone in clear text,
at risk of being accessed by bad actors. Worse still…76% of the vulnerabilities can
be exploited without physical access and more than one-third can be exploited
without administrator rights. So hackers can easily access sensitive data, including usernames, account balances, transfer details, and the phone numbers bypassing all
authentication and authorization protocols.
None of this would happen if only these applications adopted proper encryption. Acknowledged encryption expert Andrew Cheung (CEO at IronCAP) urges all users, personal and business, to adopt the highest security measures. Every day hackers are scouting for vulnerabilities in software and programs and every day brings news of
new data breaches and hacks. If you are serious about data protection reach out to Andrew Cheung – his IronCAP encryption shields you against all cyber vulnerabilities and provides a bullet proof encryption for your data. In addition to that it is also quantum-safe which means you need not worry about the upcoming quantum hacking tsunami expected in 2022!