Mobile Banking Apps For iOS Woefully Insecure

[wraggster]

Mobile banking applications fall short on their use of encryption, validation of digital certificates and two-factor authentication (http://blog.ioactive.com/2014/01/personal-banking-apps-leak-info-through.html), putting financial transactions at risk worldwide. An examination of 40 iOS mobile banking apps from 60 leading banks worldwide revealed a slew of security shortcomings (http://threatpost.com/flaws-plague-leading-mobile-banking-apps/103547) that also included hard-coded development credentials discovered during a static analysis of app binaries. It's a mess, and to date, most of the banks have been informed and none of provided feedback indicating the vulnerabilities were patched.

http://it.slashdot.org/story/14/01/10/224239/mobile-banking-apps-for-ios-woefully-insecure