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Main Street, By Robert McGarvey

The "bad-news" multiple research reports - claiming wholesale security flaws in mobile banking apps - keep winning headlines.

And they have to scare you.

Praetorian, a security firm, said in its report that eight of ten mobile banking apps contain security weaknesses.

IOActive Labs Research claimed in its report that 90% of iOS financial services apps contain grievous flaws that put users at risk.

The question has to be asked: Is it now too risky even to think about using mobile banking apps?

Dennis Fisher, security evangelist at Kaspersky Lab, which probes Internet vulnerabilities, noted: "Consumers need to weight the convenience of these banking apps against the risks that some of them present. Much of security is about trade-offs, and this is no different. Users should be very concerned about the vulnerabilities found in these apps.... There are too many well-known attacks that can be used to intercept plaintext traffic and steal users' credentials." Read more.

Are Mobile Banking Apps Dangerous to Your Wealth?

Are Mobile Banking Apps Dangerous to Your Wealth?
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