Experts warn that accessing bank accounts from mobile phones may carry some risks of identity theft as hackers can use a simple text message that comes in the guise of a service provider to get unauthorized access to confidential information. While the usage of mobile devices is relatively small still the risk is increasing as more and more people are using mobile Internet.
"The hacker does not have to be especially skilled to do this," said Jukka Tuomi, chief technology officer at Finnish software firm ErAce Security Solutions.
As ErAce notes some phones using Microsoft's Windows software are not equipped to block the attack, while Symbian phone users can block malicious messages. Meantime, most of the users in practice accept an installation of new settings if they seem to be from an operator.
To date such security problems have been minor and limited to small outbreaks as operators were able to screen the data traffic but some observers note that the new risks are coming out of operators’ reach. In many states screening text messages is prohibited.
Thus, ubiquitous fear of consumers concerned about the viruses that can attack cell phones poses a serious threat to the business of many carriers who are looking for growth in mature markets, where call prices are falling and they offer additional mobile services.
Besides, installing security software to the mobile phone is not enough inasmuch as in some models hackers can wipe the application.
"People think they are closing their door, but the windows and the back door are open," ErAce's Tuomi said.
Jacob Greenblatt, from security software firm Discretix said: "While this is definitely serious, there are certain safeguards which can be built into mobile devices to eliminate the threat entirely or to limit its potential for harm."
Still, there are millions of mobile phones in use today and these are not protected.
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