Report shows majory mobile banking security issues.
Two thirds of online financial institutions have at least one critical vulnerability, and half of mobile banking applications contain critical vulnerabilities, according to a Positive Technologies' "The Financial Application Vulnerabilities Report."
Positive Technologies, a global enterprise security firm, in announcing the findings of its annual report on the state of e-banking security., drawn from audits performed by the company, also revealed the percentage of critical vulnerabilities is falling each year. For example, high-risk vulnerabilities, which stood at 90% of systems in 2015; fell to 71 percent in 2016; dropped further to 56% in 2017. Despite this encouraging trend, security shortcomings remain a menace for financial institutions and accountholders.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
