“We expect to see a lot more fraud in the next 12 months – muchmore. As more financial institutions issue Android apps, the fraudwill go up,” predicts Amit Klein, manager of the security team atTrusteer, a Boston-based leader in financial services malwareresearch.

Central to Klein's worries are that Google does not (as Apple does)security check apps before making them available for download tophones. Google also does not (as Apple does) require that all appsbe distributed through only one, vetted source (The Apple AppStore, in the case of iPhone.)

“We believe this will be a serious threat,” Klein said. “We arenot seeing Google putting up a good fight against the fraudsters.We are seeing Google doing what Microsoft did 10 years ago whichwas basically the bare minimum. That's not enough; the Androidsecurity model is not strong enough.”

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.