Tuesday, September 2, 2014

How to Keep Fraud Threats From Ruining Your Mobile Banking

NEW YORK (TheStreet) — With 28% of U.S. adults using their smartphones and tablets to conduct banking transactions and 60% calling access to mobile banking either "important" or "very important" in choosing banks, according to AlixPartners, there's a growing risk of consumer financial fraud.

AlixPartners, a San Jose, Calif., consulting firm, reports that two recent malware threats called Sypeng and HijackRAT have caught the attention of the banking industry, leading financial institutions to tighten up on data security. (Malware, or "malicious" software, is a software-based cyber threat that can damage or disable computers and mobile devices via viruses or spyware.)

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