When it comes to security issues, smartphone users are a bit delusional
in believing the phone is safer than the PC. "If you can access data on
your smartphone, so too can hackers," warned Martin Hack, EVP of NCP
What can thieves get from your phone? Access to your mobile banking site
complete with passwords and PINs; your email at work and at home;
passwords and access to your employer's networks; your social media
accounts that contain all the info. an identity thief needs (and
desperately wants); access to your PC when you sync your phone; and ...
much, much more.
For example, smartphones are increasingly being used as a second factor
of authentication by banks and other businesses. Cybercriminals are
aware of this and will be increasingly intercepting the SMS-based (text)
authentication messages that are sent to users' phones. Typically,
during high-risk or high-value transactions, many online businesses will
send a one-time pin (OTP) or a temporary password to the user's
smartphone by SMS text message. Once the user receives the OTP they type
it into the webpage to authenticate the transaction or simply reply to
the SMS message. Businesses do this to add an extra layer of security
for user account changes and online transactions in case the user's
login credentials or online session had been compromised.