nProtect Warns about Rising Smartphone Threats

nProtect now protecting smartphone banking users. With increasing number of smartphone, threats among smartphone users are increasing exponentially.
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Feb. 17, 2013 - PRLog -- Smartphone has become a common household item. Millions of people are using smartphones to conduct mobile banking and millions more will soon be following. This is a new exciting market for banks and most banks are already providing mobile banks through their own applications or web-browser based platform. However, as smartphone adoption increases, so will threats.

According to Trend Micro’s latest cyber threat report, researchers counted more than 155,000 malicious applications for Androids, up from 28,000 at the end of second quarter. Android mobiles are more targeted for their rapidly growing market share, open market where anyone is free to upload applications, and lack of users proactively securing their mobile devices. Most of the malwares created are variants of Trojans used to steal valuable information stored in the devices. Banks that rely on web browser platform are in a bigger risk because banks, aside from SSL provided with the mobile device, cannot implement additional security feature on the customer end.

Malicious application is not the only thing threatening security of mobile devices. Cyber criminals can use unsecured wi-fi to gain access to unsuspecting victims and steal confidential information. This type of threat puts Android users, as well as iOS users, in grave danger.

Practicing safe smartphone usage is the most crucial aspect in preventing attacks by cyber criminals, who have been traditionally targeting PCs and laptops only. Users need to be wary of applications they download. The application could be infected with types of malwares that were previously targeting internet banking – Zeus, Spyeye, and other Trojan variants. There are even applications developed by criminals. By jail breaking or rooting mobile devices, smartphone users are placing themselves in a greater vulnerable position. Users can download applications that are unavailable to people who did not jail break or root their phone; however, these applications pose a greater threat as they have not been approved.

nProtect mobile security solution was developed to create a safe environment for smartphone banking. Jail break and rooting detection feature creates awareness about the dangers of jail breaking or rooting and ensures users practice safe smartphone use. By steering users away from such dangerous practice, financial institutions can be assured their customers are more secured against malicious applications. nProtect mobile security solution also employs keypad input encryption that will heighten security of banking application by encrypting every information being typed into the smartphone. To make sure smartphone does not make connection with any random, and possibly dangerous, wi-fi, nProtect mobile security’s Wi-Fi Access Control will regulate and filter these connections.

About nProtect, Inc.

Founded in January 2000, nProtect also known as INCA Internet Co., Ltd is headquartered in San Jose, California and provides online and mobile banking/payment security to financial institutions by securing users against hacking, malware, and other online and mobile threats including Zeus while meeting requirements for compliance including FFIEC.

Currently, 820 customers are using nProtect’s financial security solutions including banks such as Bank of America, Deutsche Bank, ING, and HSBC.

nProtect was awarded one of  the Fastest Growing Companies by Deloitte.

For more information, contact nProtect Inc.

Tel: 408-477-1742

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