$type=slider$show=home$snippet=hide$cate=0$h=500$va=0$rm=0

Could these 'free' financial apps be stealing your data?

Fintech app users may be getting into more trouble than they expected by using free services that sell on their data, a new report has rev...

Fintech app users may be getting into more trouble than they expected by using free services that sell on their data, a new report has revealed.

Research from security firm ESET found that fintech apps were more likely to sell on user information than services from other sectors, with 50% of consumers saying they did not know what the app did with their data.

This is despite nearly half (42%) of 10,000 global consumers surveyed by ESET saying they used a free fintech application or platform.

Security risk

The report also found a worrying lack of oversight from consumers when using such apps, with only 31% of people say they read the terms and conditions of a fintech application before downloading it, and only 29% reading the privacy policy.

ESET notes that this is symptomatic of the wider fintech app user base, as it found almost half (48%) of all consumers do not use a VPN, and 42% of consumers said they would log in to their financial applications using a public Wi-Fi network. 

Even the users who claimed to be adept at such services (so-called "Fintech adopters" - those who were  use four or more FinTech applications) showed a number of shocking security lapses, with 7% not having any security software installed on their devices.

“Protecting consumers’ sensitive and financial data has never been more important," noted Ignacio Sbampato, chief business officer at ESET.

"Financial technology has a role to play on the journey to personal and societal economic recovery, and it is vital that FinTech solutions and their users are adequately protected. Our findings about consumers and their attitudes to data security reveal that many people may be vulnerable to cyber risks, and it is our mission to ensure that technology users’ most valuable information is protected with cutting-edge security software.”



from TechRadar - All the latest technology news https://ift.tt/3pDQ7Zt
via IFTTT

COMMENTS

BLOGGER
Name

Apps,3855,Business,147,Camera,1154,Earn $$$,1,Gadgets,1739,Games,924,Innovations,1,Mobile,1695,Paid Promotions,2,Promotions,2,Technology,7933,Trailers,795,Travel,36,Trendly News,17323,Video,4,XIAOMI,12,
ltr
item
Trendly News | #ListenNow #Everyday #100ShortNews #TopTrendings #PopularNews #Reviews #TrendlyNews: Could these 'free' financial apps be stealing your data?
Could these 'free' financial apps be stealing your data?
Trendly News | #ListenNow #Everyday #100ShortNews #TopTrendings #PopularNews #Reviews #TrendlyNews
http://www.trendlynews.in/2021/01/could-these-free-financial-apps-be.html
http://www.trendlynews.in/
http://www.trendlynews.in/
http://www.trendlynews.in/2021/01/could-these-free-financial-apps-be.html
true
3372890392287038985
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy