Risk
8/21/2013
01:57 PM
Dark Reading
Dark Reading
Products and Releases
Connect Directly
RSS
E-Mail
50%
50%
Repost This

Mobile Banking Now 20% Of All Online Financial Transactions

CEB TowerGroup will detail security risks that accompany rapid adoption of mobile banking in an upcoming webinar

PORTLAND, Ore. – August 13, 2013 – iovation, stopping Internet fraud and identifying good online customers with the world's most comprehensive device reputation database, today announced that it and CEB TowerGroup will detail the unique security risks that accompany the rapid adoption of mobile banking in an upcoming webinar. Max Anhoury, iovation's Vice President of Global Sales, and Jason Malo, Research Director at CEB TowerGroup, will host the webinar entitled "Mobile Banking Security: Risks and Consequences" on Wednesday, August 21, 2013, at 10 a.m. Pacific Daylight Time.

Recently, iovation documented a significant shift toward mobile device use for banking transactions. The company found that 20% of all online financial services transactions originated from a mobile device such as a smartphone or tablet, based on its analysis of 1.5 billion devices in July 2013.. This is up from 18% from between January and July of 2013 and 11% in 2012.

"Banks are aggressively innovating for their mobile apps right now, competing for market share and customer retention" said Anhoury. "With this rapid innovation, we found that financial institutions are not able to integrate security protocols as quickly as they would like since the 'old' security measures may not be well suited for the 'new' mobile world. This means that mobile transactions can be like the Wild West for fraudsters."

The webinar will specifically address:

· The challenges financial institutions face in securing mobile service offerings

· How the concept of an online identity has evolved, partially due to mobile devices

· How compliance and Federal Financial Institutions Examination Council (FFIEC) strategies will impact mobile banking

· The role that "device" plays in defending against mobile risk

· How upcoming mobile changes impact financial institutions

With its ReputationManager 360 service, iovation tracks the online behavior of everything from desktops to laptops, mobile phones to tablets, and gaming consoles to smart TVs. By utilizing iovation's device reputation intelligence gathered across its network of hundreds of customers and thousands of security professionals, financial institutions can determine whether a device has been, or is likely to be, a source of fraudulent transactions. With this intelligence, iovation stops more than 200,000 fraud attempts daily, proactively identifying devices that are associated with abuse and stopping bad actors before they can strike.

For more information and to register for this webinar, go here.

About iovation

iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 2,300 fraud managers around the globe leverage iovation's database of Internet devices and the relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, insurance, social network, gaming and other companies make real-time queries to iovation's knowledge base of more than 1.5 billion devices from every country in the world. Clients also leverage iovation's Fraud Force Community, an exclusive virtual crime-fighting network of the world's foremost security experts, to share intelligence about cybercrime and prevention techniques. Every day, iovation stops more than 200,000 fraud attempts. For more information, visit www.iovation.com.

Comment  | 
Print  | 
More Insights
Register for Dark Reading Newsletters
White Papers
Cartoon
Current Issue
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2012-3946
Published: 2014-04-24
Cisco IOS before 15.3(2)S allows remote attackers to bypass interface ACL restrictions in opportunistic circumstances by sending IPv6 packets in an unspecified scenario in which expected packet drops do not occur for "a small percentage" of the packets, aka Bug ID CSCty73682.

CVE-2012-5723
Published: 2014-04-24
Cisco ASR 1000 devices with software before 3.8S, when BDI routing is enabled, allow remote attackers to cause a denial of service (device reload) via crafted (1) broadcast or (2) multicast ICMP packets with fragmentation, aka Bug ID CSCub55948.

CVE-2013-6738
Published: 2014-04-24
Cross-site scripting (XSS) vulnerability in IBM SmartCloud Analytics Log Analysis 1.1 and 1.2 before 1.2.0.0-CSI-SCALA-IF0003 allows remote attackers to inject arbitrary web script or HTML via an invalid query parameter in a response from an OAuth authorization endpoint.

CVE-2014-2391
Published: 2014-04-24
The password recovery service in Open-Xchange AppSuite before 7.2.2-rev20, 7.4.1 before 7.4.1-rev11, and 7.4.2 before 7.4.2-rev13 makes an improper decision about the sensitivity of a string representing a previously used but currently invalid password, which allows remote attackers to obtain potent...

CVE-2014-2392
Published: 2014-04-24
The E-Mail autoconfiguration feature in Open-Xchange AppSuite before 7.2.2-rev20, 7.4.1 before 7.4.1-rev11, and 7.4.2 before 7.4.2-rev13 places a password in a GET request, which allows remote attackers to obtain sensitive information by reading (1) web-server access logs, (2) web-server Referer log...

Best of the Web