Every Third Company Uses Mobile Devices for Financial Transactions

By   ISBuzz Team
Writer , Information Security Buzz | Dec 16, 2015 05:30 pm PST

Did you know that one in every two top managers pay money into corporate accounts via a mobile banking app? Following the recent joint survey conducted by Kaspersky Lab and B2B International, it was also discovered that over 30 per cent of companies use mobile devices to access corporate bank accounts and to make financial transactions.

The survey concluded that business representatives were increasingly making financial transactions with the help of mobile devices. In particular, 28 per cent of small and medium companies, and 34 per cent of enterprises, conducted financial transactions via mobile devices. And it is not just those in financial departments (63 per cent) but also top managers (54 per cent) and even ordinary employees (8 per cent) that freely make corporate financial transactions via mobile apps.

The growing use of mobile devices for corporate banking could be putting company funds at risk, as mobile cyber-threats have become much more widespread in recent years and are just as dangerous as computer-based threats. Hackers are also increasingly targeting mobile platforms. In fact, in the third quarter of 2015, Kaspersky Lab products for mobile devices detected more than 300,000 new malicious programs. Of these, the highest growth rates were demonstrated by a Trojan-Banker designed to steal credentials to Internet banking and e-payment systems, as well as credit or debit card data. The share of this type of malware increased from 0.6 per cent (630 programs) in the second quarter to 1.5 per cent (2500 programs) in the third quarter.

“The trend shows a continual increase in mobile banking usage by corporate banking clients. This trend is certain to continue as corporate and consumer banking clients alike migrate to the convenience of mobile banking. This creates an operational imperative for banks to very carefully consider the security and fraud prevention approaches they need to take in order to adequately ensure secure mobile banking applications, protect confidential customer data, and guard high-value corporate customer transactions. All users of mobile banking services, corporate and consumer, must also be vigilant about their own security and behaviour while also questioning their bank about the measures taken to ensure their safety,says Ross Hogan, Head of SafeMoney Business Development, Kaspersky Fraud Prevention, Kaspersky Lab.

Kaspersky Lab’s portfolio offers a wide range of solutions to ensure reliable multi-layered protection of the corporate IT infrastructure, including Kaspersky Security for Mobile. Especially for representatives of the banking sector, Kaspersky Lab offers Kaspersky Fraud Prevention SDK – a set of tools that can be used to create and configure safe mobile applications that meet information security requirements.

[su_box title=”About Kaspersky Lab” style=”noise” box_color=”#336588″]Kaspersky LabKaspersky Lab is one of the world’s fastest-growing cybersecurity companies and the largest that is privately-owned. The company is ranked among the world’s top four vendors of security solutions for endpoint users (IDC, 2014). Since 1997 Kaspersky Lab has been an innovator in cybersecurity and provides effective digital security solutions and threat intelligence for large enterprises, SMBs and consumers. Kaspersky Lab is an international company, operating in almost 200 countries and territories across the globe, providing protection for over 400 million users worldwide.[/su_box]

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