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“Smartphones are supposed to enhance security, but [SMS attacks] turn them against their owners.”


TED BISSELL, PA MOBILE BANKING AND PAYMENTS EXPERT

Mobile malware gets nastier for banks

Robert McGarvey

Better Bank Systems

12 February 2013

 

PA’s Ted Bissell, mobile banking and payments expert, is quoted on mobile malware on smartphones.

Ted comments:“Even more insidious [than counterfeit banking apps] are ‘man-in-the-mobile’ SMS attacks …. Smartphones are supposed to enhance security, but this turns them against their owners."

This type of attack is still relatively rare in the US- they are more common abroad, especially in Russia -- but Ted suggested they may be coming to the US to capitalise on the increasing use of onetime SMS passwords for authentication.



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