Mobile Banking Apps For iOS Woefully Insecure

Mobile banking applications fall short on their use of encryption, validation of digital certificates and two-factor authentication, 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 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/14/01/1...fully-insecure