Where there’s money, there’s also an opportunity for fraudulent actors to leverage security flaws and weak entry-points to access sensitive, personal consumer information.
This has caused a sizeable percentage of consumers to avoid adopting mobile banking completely and has become an issue for financial institutions who must figure out how to provide a full range of financial services through the mobile channel in a safe and secure way. However, with indisputable demand for a mobile-first experience, the pressure to adapt has become unavoidable.
In order to offer that seamless, omnichannel experience consumers crave, financial institutions have to understand the malicious actors and fraudulent tactics they are up against. Here are a few that have to be on the mobile banking channel’s radar.
1. Increased device usage sparks surge in mobile malware
Banking malware has become a very common ..
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