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Firm Finds Security Holes in Mobile Bank Applications

Fri, 11/05/2010 - 7:18am
By Elinor Mills

Source: CNET

A security firm disclosed holes yesterday in mobile apps from Bank of America, USAA, Chase, Wells Fargo and TD Ameritrade, prompting a scramble by most of the companies to update the apps.

Since Monday (11/01/2010), we have been communicating and coordinating with the financial institutions to eliminate the flaws," research firm viaForensics wrote in a post on its site. The findings we published reflect testing completed on 11/03/2010. Since that time, several of the institutions have released new versions and we will post updated findings shortly.

The company had reported its findings to The Wall Street Journal earlier in the day. Yesterday, viaForensics went public with problems in PayPal's iPhone app, spurring the online payment provider to action.

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