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Are mobile transactions secure? Study says apps of 7 banks vulnerable to theft

Cyber security firm FireEye said the apps were infected with malware that could allow hackers to steal user credentials.

April 06, 2017 / 10:23 AM IST

Even as banks continue to discourage cash transactions, a study has revealed that mobile apps of seven Indian banks are vulnerable to theft of sensitive financial information, according to a report in Business Line.

Vishal Raman, the India head of cyber security firm FireEye, was quoted as saying that these apps had been infected with malware that could steal user credentials.

He did not reveal the names of the banks but said that FireEye had alerted them about the threat.

Raman said that as digital payments systems gain more traction in India, they will become more lucrative targets with hackers thwarting efforts to keep them out.