Tag: mobile security breach

Mobile security of wearable tech data called into question

| August 26, 2014

A new report by ABI Research has revealed that wearables are rapidly increasingly in popularity.

The wearable technology market is moving quite quickly throughout 2014, but despite its popularity, the use of these devices could be placing consumers at an ever rising risk of a mobile security breach.

An ABI Research report claims that there will be 485 million shipments of wearables by 2018.

Among the most popular devices in the wearables category includes those that allow for the tracking of health and fitness data. They also often allow this data to be shared with friends, coworkers, or between doctors and patients. However, each new activity that is logged may also be opening up the user to a new mobile security breach risk.

This mobile security speculation by many in the wearables industry has been underscored by Symantec research results.

Mobile Security - Wearable TechOn June 7, 2014, that company’s Security Response team looked at the most popular mobile apps at the Apple App Store and examined the most popular iOS compatible offerings within the free “health & fitness” category. It then tested the 100 most popular options within that category. Among them, there were 57 that were also available in the Google Play store so that Android device users would be able to them. Those 57 were also researched on the Android side, by the Symantec team.

What the Security Response team found was that 20 percent of the apps that they examined required a user to use non encrypted (clear) text which exposed their login credentials. This means that in the case of the users of those popular free applications, it could be possible for the device or the app to be compromised.

Furthermore, depending on when and where the wearable device is synced, it could mean that those login credentials will be shared with just about anyone who is paying attention. The typical wearable technology does not connect directly to the internet. Instead, it uses Bluetooth synchronization to an internet enabled smartphone, tablet, or desktop. This process may be making it much easier for cybercriminals to breach mobile security and scoop up personal data from the device user, without ever making him or her aware that it had occurred.

Mobile security breaches in payments comes with a cost

| November 20, 2013

Fraud is already rapidly on the rise in this sector which remains relatively limited, and it is only expected to grow.

When it comes to the adoption of smartphone based payments, one of the biggest concerns of consumers is mobile security, and for good reason, according to the latest data that has revealed that fraud in this area is a growing trend and it is coming at a considerable price.

The m-payments market was slow to get started, but it is experiencing some growth.

However, at the same time that m-payments are slowly growing, mobile security risks are increasing rapidly and are expected by experts to increase at a more rapid pace in coming years. This problem is expanded when m-commerce is taken into account, as shopping over smartphones has been taking off at a very rapid rate and is expected to become quite explosive over the upcoming holiday buying season.

A recent report has shown that the cost that mobile security issues is going to be a pricy one.

Mobile security breaches come with costAccording to the Gartner technology research group’s projections, over the next four years, m-payments will experience a 35 percent average annual growth rate, which will send the number of users to around 450 million, and the amount of spending over this method up to $721 billion by 2017. In North America, alone, there is expected to be a growth rate of 53 percent, this year, so that by the end of 2013, it will have reached $37 billion, when compared to last year’s $24 billion. This is positive news for that industry, but also represents a growing mobile security risk as it becomes a more lucrative target to potential scammers and thieves.

All of the major players in smartphones and technology seem to have made their way into m-payments in one way or another, each with their own efforts to enhance mobile security to the point that they can make consumers comfortable with the tech and keep out fraud at the same time. This includes the acquisition of Braintree by PayPal, the new and improved mobile wallet launch by Google, and the addition of fingerprint scanning and biometrics by Apple.

Still, the primary barrier that all of those companies face is in mobile security, as consumers are still not convinced of the safety of their sensitive data. As many consumers are already quite comfortable with the payments methods that they already use, they are not ready to take a risk on a new and little known technology, when they don’t feel that their credit and debit cards are causing them an inconvenience.