News Item

Mobile Financial Apps May Not Be Safe

By: Sue Marquette Poremba, MSNBC

Who needs a brick-and-mortar bank, a credit card or even a PC when you can take care of all of your financial transactions with an app on your smartphone or tablet?

The TurboTax app allows you to take a snapshot of your W-2 tax form to prepare your income taxes. You can trade stocks using the E-Trade app.

Google Play, the official store for Android apps (until recently known as the Android Market), has more than 5,000 banking apps. Chances are good that you'll be able to handle all of your banking needs without moving anything but your forefinger.

It's convenient, yes. But are these apps safe to use? That answer is more complex.

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