KARACHI – Rewterz, a notable IT firm, has highlighted security threats and vulnerabilities in mobile commerce during the fourth International Mobile Commerce Conference. Rewterz Chief Executive Officer (CEO) Faiz Ahmad Shuja highlighted security threats and vulnerability associated with the growing usage on mobile phones and ever-increasing number of mobile banking users.
“Smart phones are being integrated with greater functionalities and consequently greater entry points for attackers with lack of technical sophistication and has provided the hackers to attack them in a variety of ways”, Rewterz’s CEO said
Shuja indicated that 80 percent of mobile phone owners store their sensitive information on their cell phones with 24 percent of them storing banking credentials on their devices. He emphasised that as soon as mobile banking and payments become more common hackers will be poised to become the number one mobile banking parasites.
