Security News > 2020 > June > Popular mobile banking apps are riddled with security flaws, and Android users are more at risk
A study of banking apps for iOS and Android found poor source code protection, cleartext storage of sensitive data, and other serious flaws that make it easy for attackers to break into accounts.
A study of banking apps for iOS and Android has led researchers to conclude that "None of the tested mobile banking applications has an acceptable level of security."
Performed by IT security vendor Positive Technologies, the study tested 14 banking apps available on both iOS and Android that had more than 500,000 downloads each.
Luckily for iOS users, none of the flaws discovered in the iOS versions of the apps surveyed was worse than a "Medium" risk; by comparison 29% of Android banking apps contained high-risk flaws.
The report concludes that those who use mobile banking apps should avoid rooting and jailbreaking, never to install applications from unofficial sources, not to click links sent by strangers, and to always keep devices and applications up to date.
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