“Smartphones are supposed to enhance security, but [SMS attacks] turn them against their owners.”
TED BISSELL, PA MOBILE BANKING AND PAYMENTS EXPERT
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.