Studies have shown that security is a top concern for consumers when using mobile payments and banking. Perhaps those concerns are not so unfounded.

A USA Today article reported on a couple of new secuirty issues with mobile devices, issues that may open up mobile payment and banking users to serious hacks.

According to the story, security firm Cryptography Research demonstrated a hack making it possible to "eavesdrop" on people shopping or banking from their smartphones. What's more, Benjamin Jun, Cryptography Research's CTO told USA Today the hacks didn't require any changes to the phone and the phone's user was none the wiser that an attack had taken place.

Jun said in the article that his company is working with a major phone and tablet company to enact a fix to the issue.

The other hack mentioned in the article was against Apple iOS devices. It let fraudsters hijack iPhone and iPad microphones to listen in on conversations, and also allowed them to "steal secret keys and passwords and pilfer sensitive data, including call histories, email and text messages." Again, victims are unaware of the hack.

For more stories like this, visit the Security research center.