FIRE News: Two thirds of banking apps have critical vulnerabilities

April 24, 2018 — Two thirds of banking apps have critical vulnerabilities

Don Duncan, Director at NuData, comments on a report issued yesterday by FIRE News disclosing that 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.

Today, a fraudster doesn’t need to break a system to access sensitive data. Most of the attacks’ objective is to reach sensitive data they can profit from. Bad actors can easily get their hands on the customer data that breaches make available. One way for financial institutions to protect their customers’ accounts – and, in turn, their business – is to implement security tools that don’t rely on the data provided by the customer.

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