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Why I Bank Offline
http://arstechnica.com/gadgets/news/2010/11/smartphone-banking-apps-expose-sensitive-customer-data.ars
Smartphone banking apps expose sensitive customer data
By Kim Zetter, wired.com | Last updated a day ago
A number of wireless banking applications for iPhone and Android phone users contain privacy and security flaws that cause the phones to store sensitive information in cleartext that could be gleaned by hackers, according to a report.
The applications distributed by such top banks and financial institutions as Wells Fargo and Bank of America placed various types of information at varying degrees of risk. But at least one Android application, distributed by Wells Fargo, stored an account holder’s username and password on the phone in cleartext. The application also stored account balances on the phone, according to a security researcher who spoke with the Wall Street Journal.
( Read more... )
Smartphone banking apps expose sensitive customer data
By Kim Zetter, wired.com | Last updated a day ago
A number of wireless banking applications for iPhone and Android phone users contain privacy and security flaws that cause the phones to store sensitive information in cleartext that could be gleaned by hackers, according to a report.
The applications distributed by such top banks and financial institutions as Wells Fargo and Bank of America placed various types of information at varying degrees of risk. But at least one Android application, distributed by Wells Fargo, stored an account holder’s username and password on the phone in cleartext. The application also stored account balances on the phone, according to a security researcher who spoke with the Wall Street Journal.
( Read more... )
