RE: Security Issues in Mobile Banking

Hi  

> User sends his user name and password to the service provider

Mobile banking hasn't been around long enough to prove it's safe.

> 2. Is this a common type of service or is it completely new?

I'm not sure how common is this kind of approach but we have here also several banks and telcos offering this kind of service to customers but with slightly different logic. Client is not to required to add username and password with SMS. Instead one with internet banking account must activate it's mobile banking (M-commerce) features, select numbers who are allowed to make SMS based query and what services are allowed. Now if one wants for example balance sheet or last transactions made, simply sends SMS containing predetermined word. SMSC forwards it over the encrypted tunnel to bank where it gets processed and sent back again over encrypted tunnel to SMSC and to client.

r.

Aigar Received on Wed Mar 12 19:39:56 2003