In today’s edition of American Banker, Editor@Large Penny Crosman presents an excellent overview of how rogue app stores are threatening mobile banking security.
We wanted to highlight her article and stress that although she focuses on the negative impact these apps present on banking security, every business vertical we work in, from media and music companies to technology and luxury goods companies, all suffer from these same threats.
Crosman begins the article:
So-called rogue app stores, once a fringe element, are becoming a serious concern for banks, as subtly altered versions of popular apps are appearing more often on smartphones. These rogue apps, which are often available for free, in some cases steal mobile banking passwords or redirect text messages containing pass-codes.
She goes on to note several factors that are driving this trend:
Consumers are drawn to the rogue app stores by the lure of free programs. Companies unwittingly encourage the use of non-approved app stores by directing their employees to download enterprise apps from alternative sources. Google and Apple are supporting the use of alternative stores.
We cannot stress enough how all brand owners need to be aware of the growing threats in the mobile marketplaces. Constant monitoring is vitally important for brand safety and security. Drop us a note for a free consultation.