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University Of Birmingham Found a Security Flaw That Had 10 Million Banking App Users At Risk

Swift-banking

The ISBuzz Post: This Post University Of Birmingham Found a Security Flaw That Had 10 Million Banking App Users At Risk appeared first on Information Security Buzz.

On 6thDecember researchers from the University of Birmingham found a security flaw that had 10 million banking app users at risk.

The researchers have developed a tool to perform semi-automated security testing of mobile phone apps. After running the tool on a sample of 400 security critical apps, they were able to identify a critical vulnerability in banking apps; including apps from HSBC, NatWest, Co-op and Bank of America Health. This vulnerability allowed an attacker, who is connected to the same network as the victim (e.g., public WiFi or corporate), to perform a so called “Man in the Middle Attack” and retrieve the user’s credentials such as username and password/pin code.

Winston Bond, Technical Director EMEA at Arxan commented below, on this research and the measures that consumers and banks should be...(continued)

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