Testing finds ‘100 percent’ of mobile banking apps hackable

“Even as security specialists, we were quite surprised” by the 100 percent failure rate, said an executive from Pradeo, the company that did the testing.

Mobile banking applications produced by 50 of the world’s largest 100 banks were all vulnerable to hacking attacks which could allow password capture or surveillance of users, according to new research from a European mobile security outfit.

“We didn’t initially plan to publish the results of our tests,” Caroline Borriello, chief operating officer of Paris-based Pradeo Security Systems told CyberScoop in an interview. “We chose to make this disclosure because we believe it’s important for people to know” how insecure mobile banking apps actually are. …

Source: Testing finds ‘100 percent’ of mobile banking apps hackable – Cyberscoop

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