Not so smart-phone

Sitting in your favourite cafe supping on a latte while setting your financial affairs in order on your Android phone sounds almost like a pleasant activity.

But hackers have conspired to put a downer on phone banking, with malware attacks on Android phones on the rise, with security experts calling them a 'fraudsters heaven.'

A new version of trojan horse 'Zeus' has been attacking phones that use the Android operating system. The chief executive of US internet security provider Trusteer, Mickey Boodaei, said in a blog post: 'Bad news: fraudsters have all the tools they need to effectively turn mobile malware into the biggest customer security problem we've ever seen.'

In recent weeks it has emerged that smartphones owners are increasingly falling prey to hackers, and are looking more vulnerable than ever.

'The mobile phone industry is not fit for purpose, especially for financial transactions,' says Alex Fidgen of MWR InfoSecurity 'The evidence is irrefutable. You cannot be assured of security with modern smartphones. As soon as the handset is compromised, then any data is up for grabs.'

Fidgen thinks that the fault lies not with banks or systems providers but with the handset manufacturers who, in a rush to bring out new phones on the market, have place security as a low priority.

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