Defending Mobile Financial Applications
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Overview: One of the most insidious criminal attacks on banking in recent times has been the proliferation of malware targeted at online banking. This custom malware enables activity such as authentication fraud by the theft of mTANs or SMS messages, or "man in the browser" / "man in the middle" attacks to steal credentials.
Now a new frontier has opened in online banking - consumers and businesses using smart phone-based applications to manage their finances. This has presented a new attack vector for criminals that is quickly proving to be the low hanging fruit for fraud.
This white paper describes a solution to the problem using Metaforic technology, and discusses how malware and "man in the middle" attacks on mobile financial applications can be comprehensively defeated.