Monday, August 15, 2011

Two divergent views on mobile banking security

Two very similar articles were published on the 10th of October. Both discusses the security of mobile banking, yet they get to totally different conclusions:

The first argues that mobile devices are much less sophisticated in defending against malicious attacks, it does not come with firewalls and subscribers are more likely to download bad applications on their mobile phones. Mobile banking are therefore much more vulnerable than online banking.

The second article
reckons that many of the hacking tools that exist for PC's are not available for mobile platforms. With so many variants of operating systems and hardware it is difficult to find common access mechanisms to launch malicious attacks. In addition, because mobile banking can be implemented with transactional security, utilising various additional techniques it is much more difficult to penetrate. The writer then concludes that mobile banking are much more secure than online banking.

Both articles published on the same day, yet with different conclusions. Which one is right?

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