Your customers’ phones are a huge fraud risk — here’s how to manage it

In recent years, the banking, financial services, and fintech industries have become aware of the security risks posed by social engineering.

However, fraudsters don’t concern themselves with regulations, customers, or ethics. They are free to act quickly and opportunistically, with the latest technology and tools available, and without needing to stick to plans or roadmaps. They are always evolving more quickly than security systems. And a big current threat that is less discussed than social engineering is the vulnerability of your customers’ mobile devices — particularly, their phones.

Why your customer’s phone is a potential attack vector