CCR Magazine: Two thirds of banking apps have critical vulnerabilities

April 24, 2018 — Many banking apps still have critical vulnerabilities

Don Duncan, Director at NuData, comments on a report issued yesterday by CCR Magazine disclosing that the cybersecurity firm Positive Technologies released its yearly report into vulnerabilities in financial applications. According to the report, the number of vulnerabilities the Positive Technologies teams discovered has fallen, which means banking apps and websites are getting safer. However, two thirds of online banking systems still contain at least one critical vulnerability.

Thanks to the omnichannel experience, users can jump to and from web and mobile applications. But fraudsters can do the same, looking for the path of least resistance to commit fraud, which is why now mobile fraud is growing. More than 50% of the account takeover attacks across NuData clients come in via native apps and enterprise APIs. This is the biggest risk point today, much more than desktop.

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