Hellman & Friedman to Acquire Checkmarx at a $1.15B Valuation

From download to deposit, mobile banking only as safe as your app

Once upon a time, depositing a check required actually visiting a bank. Now, the same task can be as simple as taking out your smartphone, opening an app and snapping a picture. But as mobile banking increasingly replaces, or at least supplements, traditional banking, questions arise about the trade-offs between security and convenience.

The good news is that security experts tend to agree on some common, simple guidelines for more secure mobile banking.  First off, never download banking apps on a jailbroken device — one that’s been modified to let users make changes and download apps not approved — because the operating system’s security layer is no longer enforced, warns Amit Ashbel, a cybersecurity expert with Checkmarx. Similarly, apps should only be downloaded from a phone’s native app store. Android users especially should be wary of anything that requires third-party permissions.

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