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Over 30% Of Companies Use Mobile Devices To Make Financial Transactions : Report

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It is no surprise to see people and organizations carrying out their usual norms though their smartphones rather than the bulkier siblings — desktops and laptops. A major cause which has driven this change is the fact that all the solutions are already available on mobile devices and undoubtedly offer you better ease of work.

As per a joint survey conducted by Kaspersky Lab and B2B International, over 30% of companies use smartphones to access corporate bank accounts and to make financial transactions.

In particular, 28% of small and medium companies and 34% of enterprises conducted financial transactions via mobile devices. And it is not just those in financial departments (63%) but also top managers (54%) and even ordinary employees (8%) that freely make corporate financial transactions via mobile apps.

Unfortunately, the growing use of mobile devices for corporate banking could be putting company funds at risk, as cyber-threats have become much more widespread in recent years.

As per figures, hackers are increasingly targeting mobile platforms. In the third quarter of 2015, Kaspersky Lab products for smartphones detected more than 300K 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% (630 programs) in the second quarter to 1.5% (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.

Ross Hogan,Head of SafeMoney Business Development, Kaspersky Fraud Prevention – Kaspersky Lab, said

All users of mobile banking services, corporate and consumer, must also be vigilant about their own security and behavior while also questioning their bank about the measures taken to ensure their safety.

Senior Writer

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