Security of mobile payments questioned by FTC
Mobile payments are becoming all the rage around the world, but there are major security concerns that have been gaining more attention in some countries. Mobile commerce is on the rise in the U.S., and while that means more consumers are becoming acclimated to mobile payments, it also means that malicious parties are beginning to target these consumers. The U.S. Federal Trade Commission has released a new report highlighting the potential threats that exist in the competitive world of mobile payments.
Report highlights threats of the mobile world
The report, entitled “Paper, Plastic, or Mobile?,” sheds light on the issue of mobile payments fraud in the U.S. The Federal Trade Commission has drawn upon the vast amount of information it has received from companies and organizations heavily invested in the mobile commerce industry for the report. The report also contains the concerns that consumers have raised over the issue of mobile security and commerce, with fraud and identity theft being among the most worrisome of issues.
Security lax when it comes to mobile commerce
The report notes that the concept of mobile payments has been a very attractive prospect for years. Despite the anticipation surrounding mobile payments, however, relatively little has been done to ensure the security of mobile commerce. The Federal Trade Commission suggests that there are various ways in which a consumer’s financial information can be stolen and exploited and that some of the security issues that consumers face are inherent in many of the most popular mobile commerce platforms.
Credit cards considered most secure option for consumers
While the report suggests that mobile payments are very effective for purposes such as bill payments and shopping, the Federal Trade Commission remains unconvinced that mobile devices like smartphones and tablets provide enough security to make mobile payments feasible. The agency claims that credit cards offer the strongest security for consumers, especially when it comes to the matter of fraud.
Android facing mounting mobile security threats
The Android platform is being aggressively targeted by hackers from all over the world, causing major mobile security concerns for thousands upon thousands of consumers. More than 350,000 unique malware applications were recently discovered on Google Play, many of which were downloaded by a massive number of consumers. Mobile security is quickly becoming a very important subject for Android users, and Trend Micro, a leading Internet security firm, has launched a new update to its mobile security suite, providing more protection to consumers.
Mobile Security 3.0 launched by Trend Micro
Trend Micro has launched Mobile Security 3.0, a security application specifically designed for the Android platform. The application boasts of several features that aim to keep a consumer as safe as possible. One such feature is the application’s ability to scan other applications for malicious content. Any such content detected by the application can be quarantined so that it does not infect the rest of a user’s mobile device. The application also allows users to backup their important information on a cloud network, keeping it safe from those that would exploit such information. This data can be retrieved easily when necessary.
New security application allows users to wipe their mobile devices remotely
Malicious applications are not the only threat in mobile security. Smartphones and tablets are very popular targets for theft and many people often have their mobile devices snatched from their hands while in public. Mobile Security 3.0 accounts for these threats by giving consumers the ability to remove all data from their mobile device remotely, rendering stolen smartphones and tablets virtually useless in terms of information exploitation and identity theft.
Application includes privacy scanner for social media
Unlike some other mobile security application, the latest offering from Trend Micro also provide users with a privacy scanner for social networking. This scanning can identify any privacy risks that may exist in a person’s Facebook account and recommend settings that can keep a user’s information secure. The Mobile Security 3.0 application is available for approximately $30 on Google Play, but a free trial version of the application is also available to Android users.
