Payments Awards

10 million banking app users at risk

Written by Mark Evans
07/12/2017

Researchers from the University of Birmingham have announced that they had found a security flaw that puts 10 million banking app users at risk.

The researchers have developed a tool to perform semi-automated security testing of mobile phone apps, and after testing a sample of 400 security critical apps, they identified a critical vulnerability - including apps from HSBC, NatWest, Co-op and Bank of America Health.

This vulnerability allowed an attacker, who is connected to the same network as the victim to create a "man in the middle” and retrieve the user's credentials.