Banking Apps May Not Be Secure

Your personal banking information isn’t so private if you’re using a mobile cell phone application to manage your finances.

That information is according to a new study that shows more than 80% of mobile banking applications have security flaws.

Neal O’Farrell, executive director of the nonprofit Identity Theft Council, spoke about the seriousness of mobile security as part of San Francisco Small Business Week, Cult Of Mac reported. “There were more data breaches than U.S. residents last year and more cases of identity theft than just about all other crimes combined,” O’Farrell said, adding that unless users are encrypting their devices, they are essentially asking for trouble. “You’ve got to wake up [and] protect yourself, even if you use a Mac,” he said

He also stated that there are more instances of identity theft in The United States than there are of all other crimes combined.

Experts say the list of dangerous apps span the market from Andriod to Apple products and suggest the best way to stay stay is to simply do your banking in person.

Mobile Banking Security Flaws

Mobile Banking Security Flaws