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Mobile banking apps in developing nations have weak security

New research shows “branchless” mobile banking apps are often poorly coded and pose security risks. University of Florida researchers looked at dozens of apps used for mobile money systems. Problems include SSL/TLS issues, botched cryptography, information leakage and opportunities to manipulate transactions. The impact of the problems is unknown, but “it is possible that these apps are already being exploited in the wild,” they wrote. The research paper will be presented on Wednesday at the 24th USENIX Security Symposium in Washington, D.C.”]

Source: https://www.csoonline.com/article/2969667/mobile-banking-apps-in-developing-nations-have-weak-security.html

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