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Mobile Financial Apps May Not Be Safe


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Second-string security

"We've seen a few examples where it became clear the mobile finance apps didn't quite receive the same level of security scrutiny as their traditional counterparts," said Roel Schouwenberg, Boston-based senior researcher at Kaspersky Lab, adding that this is a problem for mobile apps in general.

[What to Do If Your Online Account's Been Hacked]

Compounding the problem are two more factors, Schouwenberg said — the overall lack of security software for mobile devices, and device owners who use the financial apps while on an untrusted or public Wi-Fi network.

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