Are there security concerns with mobile banking or m-commerce?
Concerns exist for more than just the applications for mobile banking. Today, it is virtually impossible to be absolutely certain that every application run on a mobile device comes from a reliable source, and the introduction of open access networks magnifies the problem. As a result, subscribers face threats such as identity theft, phishing, pharming and other attacks designed to compromise secure data, pirate content or even for example, take money directly from bank accounts. If the users cannot trust that their applications are secure and come from a trusted source, they will lose confidence not only in the applications, but also in the operator providing the service. Ultimately, this can have a detrimental impact on the service provider’s business model as well.
