Bank Info Security discuss the findings of new research that outlines the main mobile banking risks to banks and credit unions and show how they will impact on them in the long-run if no action is taken now:
Banks and credit unions that don’t take steps now to anticipate mobile banking and payment risks will suffer consequences in the long run, according to new research from BITS, the technology policy division of the Financial Services Roundtable.
“Clearly, they need to be doing a good risk assessment,” says Paul Smocer, BITS’ president. “Banks need to understand where there might be different and unique threats.”
A good place to start: Review what’s been done to mitigate risks for other e-commerce channels, such as online. But mobile risk assessment and mitigation has to go a step further”.
Read the full article here.
