Understanding the risks of different types of Mobile Banking transactions...

While leaving responsibility for personal mobile banking security solely in the hands of financial institutions is a poor strategy, your CU needs to do its part. Is yours?

Image source: gadgetdude / CC BY 2.0

There are a number of different mobile banking techniques, and with each comes a specific set of security rationale. Both your CU and its members need to understand the various possible attack scenarios against mobile banking systems and what can be done to minimize risk.

Security controls built into smartphone operating systems are now thought to be stronger than those built into desktop computers; however mobile device malware threats are growing rapidly. Your members can easily undermine mobile banking security and thus actively monitoring the health of their devices can help them to protect their data.

Read the article and learn about the various types of mobile banking transactions and their associated risks.