A report prepared by the advisory firm, Aite Group\nfor Arxan, confirms financial mobile apps are full of vulnerabilities. According to their findings these gaps stem\nfrom a lack of security controls and insecure coding within the apps\nthemselves. <\/p>\n\n\n\n
Although the results are rather enlightening, the\nadvisory firm opted not to provide the names of the apps or financial\ninstitutions within their report. The\nonly information disclosed was that each company was headquartered in either\nthe U.S. or Europe, and the apps were accessible within the Google Play\nStore. This doesn\u2019t exactly help narrow\ndown the options, considering any major banking institution\u2019s mobile app can be\nfound in the Google Play Store. <\/p>\n\n\n\n
Unfortunately, it appears the security issues found by the Aite Group will likely go unresolved for some time, as the advisory firm has opted not to contact the financial institutions regarding the vulnerabilities.\u00a0 <\/p>\n\n\n\n
The findings, as detailed in the report, confirm the\nbanking institutions tested are choosing not to include encryption\ncapabilities and are failing to implement code hardening coding practices. Both of these controls are designed to\nprotect mobile apps from being tampered with. \nBy choosing not to deploy these controls, the security of the mobile\napps significantly decreases.<\/p>\n\n\n\n
One may think, in order to crack the code and begin freely\naccessing private data, it would take a significant amount of time and\nskill. However, that is not necessarily\nthe case. The testing group was able to\neffectively \u201cbreak into\u201d the application in less than ten minutes. Upon cracking the code, they could identify\nAPIs, read file names, and access sensitive data. <\/p>\n\n\n\n
What may be considered even more alarming is, 97% of\nthe tested apps were easily reverse engineered or decompiled, as they lacked\nbinary code protection. Additionally, virtually none of the apps tested had security\nmeasures in place to detect if the app was being reverse-engineered or\nmaliciously tampered with. <\/p>\n","protected":false},"excerpt":{"rendered":"
Third-Party Tested Several Android Banking Apps, Proving Just How Vulnerable They Are A report prepared by the advisory firm, Aite Group for Arxan, confirms financial mobile apps are full of vulnerabilities. According to their findings these gaps stem from a lack of security controls and insecure coding within the apps themselves. Although the results are […]<\/p>\n","protected":false},"author":54,"featured_media":55439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[7],"tags":[5540],"class_list":["post-60895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","tag-security-gaps"],"yoast_head":"\n