While mobile banking apps are growing quickly in popularity, 68 percent of smartphone owners who have not yet adopted these apps are holding back due to security fears, while only 12 percent believe that the effort of downloading and installing such apps doesn’t justify the convenience, according to Metaforic.
The chip and PIN system employed by most European and Asian banks is definitely more secure than the magnetic strip one, but it doesn't mean that it doesn't have its flaws.
Kaspersky Lab experts have recently notified the world of the existence of another piece of malware that seems to have come from the same workshop(s) that pushed out Stuxnet, Duqu and Flame.
Two years ago, Trusteer discovered Silon, a financial malware that was defrauding online banking customers protected by two factor authentication systems left and right.
It seems that gullible or desperate individuals aren't the only ones who fall for advance-fee scams, as the US Federal Deposit Insurance Corporation has recently revealed that some financial institutions have become victims, too.
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