News - Mobile banking affects consumers' bank selection

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Early adopters are savvy investors but there is overall demand for mobile banking, says survey

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And as people begin to use their smartphones for banking, it will become worthwhile developing malware for these devices. I don't really have any idea how secure mobile OSs are, but I'm sure they're not impenetrable.

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Originally Posted by miniyazz

And as people begin to use their smartphones for banking, it will become worthwhile developing malware for these devices. I don't really have any idea how secure mobile OSs are, but I'm sure they're not impenetrable.

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The plan is for the main security to be at chip level: http://channel.hexus.net/content/item.php?item=22503

I'm surprised at this, to be honest. Given all of the fears about bank accounts, fraud and so on, the last place I would have thought people would be sticking access to their bank account is on their phone.

I'm fearful enough about losing my phone and hence my email account, let alone my bank details and direct access to my account.

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Originally Posted by Scott B

The plan is for the main security to be at chip level: http://channel.hexus.net/content/item.php?item=22503

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I'm no expert, but I can't see how that would offer any defence against keyloggers and suchlike - targetted at people logging into online banking, for example. But regardless, any secure area has to be accessible, and that's where vulnerabilities come in.