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Holiday season is in full swing and that means consumers and Social Media<\/em> The world is no longer round since the upcoming of social Mobile<\/em> Mobile poses very similar threats as social media.
\nbusinesses are more vulnerable than ever for identity
\nfraud<\/a>. Between sharing wish lists and downloading apps for easy shopping,
\nsocial media and mobile technology pose huge holiday threats. Not only do
\nconsumers need to protect themselves from identity theft, but companies need to
\ntake the extra initiative to guard their reputation to ensure that consumers
\nwill be return buyers.
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\nmedia, it has become flat and interconnected with a the click of a mouse. People
\nare able to connect with each other in a faster, easier way. Perhaps the most
\nconvenient part of social media is also the most dangerous. Users are able to,
\nand often do, share every aspect of their lives via social media. This leaves
\nlittle to no information private for only the user to know. Things such as full
\nbirthday, high school name, pet name, and even parents names are easily found
\non a social media profiles. Sound familiar? These are very traditional security
\nquestions asked when verifying an account or identity on most online platforms.
\nSocial media has
\nmade these questions not so secure when asking for proof of identification. In
\nadditional to sharing personal information, social media also poses a threat
\nbecause many accounts have integrated logins with social profiles such as
\nFacebook. So that means if you sign up for an account on xyz.com and log in
\nusing your Facebook and then link your credit card on your xyz.om account,
\nsomeone with your Facebook credentials could access your bank account.
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\nWhile its easy and convenient to link your credit card account to mobile apps and log ins, it turns mobile phones into walking keys into consumers bank
\naccounts. Mobile
\nsecurity<\/a> is still a hurdle for many companies as it is still fairly new to
\nsome industries. Even though banks have adopted mobile technology fairly
\nquickly, mobile banking still is a threat to companies and consumers alike. As
\nMcNelley stated last year, 90% of bank risk executives say mobile
\nbanking will create the next big wave of financial fraud. The Mobile Threat
\nReport for Q3 of 2012, also illustrates that mobile fraud is still an on
\ngoing issues. It states that 71.5% of mobile fraud is in the form of a Trojan.
\nThese Trojans can attack apps that store personal account information and
\ncontract lists and then forwards the information to a remote address.
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