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Critical Vulnerabilities Plague Online FIs & Mobile Banking Apps

The most common online bank vulnerabilities in 2017 were cross-site scripting.

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 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.).

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