Two years ago, I decided to conduct research in order to obtain a global view of the state of security of mobile banking apps from some important banks. In this blog post, I will present my latest results to show how the security of the same mobile banking apps has evolved.
Every so often we hear stories of people losing their mobile phones, often with sensitive photos on them. Additionally, people may lend their phones to friends only to have those friends start going through their photos. For whatever reason, a lot of people store risqué pictures on their devices. Why they feel the need to do that is left for another discussion. This behavior has fueled a desire to protect photos on mobile devices. One popular option are photo vault applications. These applications claim to protect your photos, videos, etc….
For several years I have been reading about flaws in home banking apps, but I was skeptical. To be honest, when I started this research I was not expecting to find any significant results. The goal was to perform a black box and static analysis of worldwide mobile home banking apps. The research used iPhone/iPad devices to test a total of 40 home banking apps from the top 60 most influential banks in the world.