Every third company uses mobile devices for financial transactions

Every third company uses mobile devices for financial transactions. (Image Credit: Darryl Linington).

According to a joint survey conducted by Kaspersky Lab and B2B International, over 30% of companies globally use mobile devices to access corporate bank accounts and to make financial transactions. One in every two top managers put money into corporate accounts via a mobile banking app.

The survey found that business representatives were increasingly making financial transactions with the help of mobile devices. In particular, 28% of small and medium companies globally and 34% of enterprises conducted financial transactions via mobile devices. And it is not just those in financial departments (63%) but also top managers (54%) and even ordinary employees (8%) that freely make corporate financial transactions via mobile apps.

The growing use of mobile devices for corporate banking could be putting company funds at risk, as mobile cyber-threats have become much more widespread in recent years and are just as dangerous to users as computer-based threats. Hackers are increasingly targeting mobile platforms. One of the fastest growing malware types recently has been Trojan-Bankers designed to steal credentials to Internet banking and e-payment systems, as well as credit or debit card data.

“The trend shows a continual increase in mobile banking usage by corporate banking clients. This trend is certain to continue as corporate and consumer banking clients alike migrate to the convenience of mobile banking. This creates an operational imperative for banks to very carefully consider the security and fraud prevention approaches they need to take in order to adequately ensure secure mobile banking applications, protect confidential customer data, and guard high-value corporate customer transactions. All users of mobile banking services, corporate and consumer, must also be vigilant about their own security and behaviour while also questioning their bank about the measures taken to ensure their safety”, concludes Ross Hogan, Global Head of Fraud Prevention at Kaspersky Lab.

Staff Writer