Using Mobile-Based Security to Combat New Fraud Threats (TowerGroup)

Increasingly sophisticated cyberfraud techniques can bypass the security systems installed at most US banks. As banks look to new, more effective fraud prevention solutions, the nascent mobile banking channel is gaining momentum although many of its concomitant risks are unknown. Fortunately, the explosive proliferation of mobile banking and mobility and smartphone usage in general provides a new avenue for financial institutions to combat these new fraud threats.