Mobile bank security

Mobile banking applications are widely used everywhere, because they make it much easier for customers to work with banking services. Today we will talk about such an aspect as the security of a mobile bank. As a trend, the creators of online banking applications do not pay the required attention to this issue. Often, due to the lack of secure code and architecture, the application becomes vulnerable. We want to help you understand this issue and keep your customers safe.

Application varieties: does the security of mobile banking depend on it?

There are many applications for a smartphone, but in terms of the security of a mobile bank, they are divided by location and by the type of data transfer technique used. Let’s highlight the options for the first category:

• SIM;
• Web;

By the type of technology used to work with the server, there are the following:

• network;
• SMS applications;
• USSD;

The programs created for operating systems on smartphones with a special API, which are installed on the phone to interact with banks, are now the most popular. They take full advantage of the capabilities of a smartphone and have a great interface.

There are applications, classifications “without access to the account”, which include helper programs. These functions can also be found in applications that make it possible to perform actions with the account. Often, navigational mobile banking applications acquire account functionality. Some banks divide such options into several applications, which, on the one hand, is quite expedient – then the security of the mobile bank is kept under stricter control, and the attacks of malefactors are reduced.

Analysis methods

Analyzing the protection level of a smartphone application, 3 main components are checked – servers, client part and communication channel. Consider a methodology for assessing the security of a mobile bank. There are dynamic and static analysis. The first includes:

• setting up the application that has been activated;
• fuzzing;
• analysis of network traffic;
• checking work with files;
• checking the memory of the application itself.

In turn, static checking provides for a test of the source code, if there is access to it, reverse engineering, decompilation, and checking for weaknesses in the code.

Intruder models

Attacks on servers are in no way different from attacks on simple RBS systems. Client-side attacks can occur if there is direct access to the phone on which the virus is launched, which makes it possible to control the channel. In the physical access option, you can access files. If the application contains authentication data or other critical data, then it is very easy to get them and steal funds. To carry out an attack using an application, any separate technical methods or Drive-by-Download, scammers install viruses on the phone.

1. An attacker who has physical access to the client’s smartphone. In the event that the phone does not have a password.
2. In the absence of access to the phone. Then the attacker is close to the potential victim and can conduct the attack directly.
3. When a virus application is downloaded to the client’s smartphone.

All mobile applications are susceptible to fraudulent attacks, and cybercriminals come up with new ways to steal money and damage the reputation of banking applications. The safety of your customers comes first to you as a mobile banking service provider. Modern options for protecting the security of a mobile bank – anti-virus programs, MDM, etc., reduce risks, but do not fully solve the problem.

The risks for online banking users are directly proportional to the level of protection of the application. Designing and implementing a proper security system for your mobile banking application is a surefire way to protect users of your services from illegal encroachment on their funds. Our experts will help you with this. The issue of safety is above all for us, which is why we pay special attention to every detail. From our specialists you will receive not only a high-quality product, but also detailed advice and ongoing support.