Security is beginning to attract more attention, but threats inspire little action
As mobile commerce becomes more prolific, security is becoming a much more serious issue. Hackers have begun to focus on the mobile field more diligently because of the lack of security solutions that exist therein. Malicious groups have turned much of their attention to the commerce space because of the trafficking of financial information. Due to lackluster security, many consumers are finding themselves exposed to the risk of having their financial information exploited by malicious parties.
Malicious devices are becoming more common
The number of malicious devices in the physical world is growing at a rapid pace. These devices include those that are designed to mimic or exploit cash registers, credit card readers, and other such hardware. Even gas pumps are being equipped with devices that are meant to steal information from credit cards. These devices are also becoming more mobile-centric as a growing number of people begin to pay for products and services with their smartphones rather than with their credit cards. While physical devices are quickly becoming a problematic issue, malware is being considered much more dangerous.
Malware is growing at a rapid pace
According to security firm MacAfee, malware targeting mobile devices is becoming more common at an alarming rate. The firm notes that the presence of malware targeting the Android platform specifically has tripled between 2012 and 2013, with an estimated 3.7 million malware applications having been identified at this time. Notably, much of this malware goes undeterred as it attacks consumers and retailers alike. This is largely due to the lack of focus that both people and businesses have when it comes to matters of mobile security.
Hackers are winning the fight on the security front
Hackers may be winning the security battle. Because retailers, and other types of businesses, are still somewhat new to the mobile field, they are not necessarily attuned to the security issues that exist within the mobile commerce space. As these businesses continue to embrace new security solutions, they are finding that hackers have already developed malware that can bypass these solutions.
This, according to predictions that have been released by Symantec.
If security firm, Symantec, is correct, then wearable technology such as smartwatches could soon mean that the need for us to try to remember a long list of different ever-changing logins and passwords could come to an end.
While mobile devices have previously been associated with low security, they could soon be giving protection a boost.
Mobile security has always been something that has made users feel a little bit leery, and has held back mobile payments and commerce from becoming reaching its true potential. However, wearable technology such as smartwatches, augmented reality glasses, and other wearables may one day make it possible for us to shake our reliance on password protection. They may currently be associated with privacy violations and hacking, but they also hold the ability to function with more accurate security protocols than password protection.
The boost that wearable technology could give to confidence in mobile security could be considerable.
Symantec released its predictions at the Wearable Technology Show, where Sian John, a technical specialist, called today’s password protection “frankly rubbish”. It was also added that the only reason that they are still being used is because they are user friendly compared to the alternatives that have been available until now.
John went on to explain that Symantec is currently investigating ways that wearables and other tech can provide a more practical and engaging mechanism for authentication. She also stated that by working collaboratively with the IT industry with regards to security standards, it could soon become possible for devices of all forms and from all brands to be able to communicate with each other in order to verify that someone is who he or she claims to be.
She said that “If you’ve got collaboration, you can end up with a sort of personal area network. If you’ve got your phone, your Fitbit and your Google Glass all in the same place, the actual proximity of those things can help us know that it’s you.”
At the same time, she also said that this sort of wearable technology remains in its very earliest forms and that these security solutions shouldn’t be expected to be developed tomorrow. The reason is that some time will be needed before it will be made possible for this universal form of authentication infrastructure to actually become affordable.
