Arxan Issues Mobile Banking & Payment Security Advisory For “Data Privacy Day”
To Increase Education and Security Awareness of Mobile Financial Services Bethesda, MD – January 28, 2015– Arxan Technologies, the industry-leading provider of application protection solutions, is observing Data Privacy Day on January 28, by issuing a mobile application security advisory for mobile app developers of banking and payment apps as well as their end users. The Advisory is intended to promote continued education and awareness of the increased risks to mobile financial services applications and the sensitive data of their customers that are using these apps on their devices. “Data Privacy Day” commemorates the 1981 signing of the first legally binding international treaty dealing with privacy and data protection. It is led by the National Cyber Security Alliance, a non-profit, public-private partnership focused on cyber security education for all online citizens For customers who are using or considering mobile financial services applications such as check deposits, balance inquiries, mobile payments, money transfers, etc., Arxan advises the following steps to increase the level of security surrounding mobile financial transactions to protect their privacy and data. Arxan Mobile Banking and Payment Security Advisory for Data Privacy Day: - Download banking and payment applications only from certified app stores;
 Stop Protecting Your Apps; It's Time for Apps to Protect Themselves, Gartner Maverick* Research, Joseph Feiman, 25 September 2014
- Ensure that your phone settings are set to prevent app downloads from unofficial stores!
- Reverse engineering involves the use of widely available online hacker tools and allows the hacker to analyze the app. It is typically the first step that hackers take to tamper with an application’s functionality or insert malware.
- If that’s unavoidable—because you spend a lot of time in cafés, hotels, or airports, for example—pay for access to a virtual private network that will significantly improve your privacy on public networks.
- Although, purposeful, these solutions do not provide sufficient protection from hacking attacks that are increasingly being launched, such as the recent Wirelurker or Masque attacks.
- Leading mobile app developers of financial services that are building self-protections into the application development (or build) process for both runtime and ‘at-rest’ defense against hacker attacks are offering greater security to their end customers.