Intertrust says financial mobile apps highly vulnerable
Intertrust, a San Francisco-based application security specialist, issued a report revealing widespread vulnerability in financial mobile apps.
The company's 2020 Security Report on US Financial Mobile Apps, shows that more than 70% of financial mobile apps have at least one vulnerability that could lead to a serious data breach.
The report, which analyzed 100 publicly available mobile apps in the U.S., showed that 82% of these apps failed one or more cryptographic tests, according to a press release.
"The troubling results of this analysis indicate that mobile financial app developers still need to pay closer attention to secure coding practices," Bill Horne, general manager of the Secure Systems product group at Intertrust, said in the release.
He added that application shielding strategies and technologies are available to help financial organizations improve overall security.