> The same theme is playing out today as some lawmakers and consumers question the safety of driverless cars, the economic impact of automation or the security of mobile banking
Am i the only who has serious reservations about mobile banking? It completely undoes 2FA (I hear banks in the US don't use 2FA, but it is mandatory for all online transactions in India).
I mean if you lose your phone you lose your bank a/c. Your android phone is highly insecure. Microsoft got flak for dropping XP support after a decade. Your typical android phone stops recieving updates after 2-3 years. And since in the mobile security paradigm, the user is just another security threat to be mitigated, there is nothing you can do about it (short of doing a risky root of your phone, which btw would stop many banking apps from working ). Already there are viruses in the wild which are rooting millions (yes, millions) of unpatched phones.
http://www.cmcm.com/blog/en/security/2015-09-18/799.html
Right now these malware are only looking for low-level fruit like steam, credit cards, and pushing ads. Its only a matter of time before they go after your bank a/c.
Am i the only who has serious reservations about mobile banking? It completely undoes 2FA (I hear banks in the US don't use 2FA, but it is mandatory for all online transactions in India).
I mean if you lose your phone you lose your bank a/c. Your android phone is highly insecure. Microsoft got flak for dropping XP support after a decade. Your typical android phone stops recieving updates after 2-3 years. And since in the mobile security paradigm, the user is just another security threat to be mitigated, there is nothing you can do about it (short of doing a risky root of your phone, which btw would stop many banking apps from working ). Already there are viruses in the wild which are rooting millions (yes, millions) of unpatched phones. http://www.cmcm.com/blog/en/security/2015-09-18/799.html
Right now these malware are only looking for low-level fruit like steam, credit cards, and pushing ads. Its only a matter of time before they go after your bank a/c.