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This cyber threat hacking goes -- Just how safe is your Smartphone or tablet for paying bills on line.
Joining us now Tom Kellerman a cyber securities all right Trend Micro who formerly with an anti hacker at the World Bank.
Thanks for being -- -- Tom you know got some numbers here mobile transactions both to go up 60% this year to like a 170 billion.
But to multiply to one point three trillion dollars and a matter of a few years are we ready for a security wise.
If you build it they will -- -- and I'll be righteous I think a modern day doe loans or grants are essentially ones that operate in cyberspace.
Great -- -- complement yours or 500% increase in mobile malware was detected by term micro last year.
Up 500% increase in mobile malware.
If you say in the notes -- the future of pick pocketing is going to be digital please elaborate.
Well because it is mobile platforms many of these mobile devices and operating systems are not secure.
The only secure operating system out there is really blackberries.
And most people don't want to use it because it isn't sexy.
So that being said there utilizing platforms that are easier to have to have a larger attack surface and the criminal syndicates of the world are well aware that us.
Now you draw distinction I didn't realize this I thought credit card fraud when they rip me off that I'm liable for at most fifty bucks.
And it -- crack and in my checking account or something no problem the -- make good on that.
But I read you say the financial institution is not liable if my account -- -- They -- not liable to make you holy -- if you're debit card -- tax and credit cards you're you're insulated from that because from merchants keep the costs of that fraud.
But when it comes to debit card transactions or your bank accounts transactions themselves.
Then they can make you actually pay for your own loss that is -- -- Donner.
Now we know that denial of service attacks I think that's a technique dating back twenty or thirty years at least.
Had to basically kind of froze in the web -- to consumer -- of two dozen big banks.
What is the purposefully do this denial of service thing -- -- trying to get money out of my account.
Sometimes they are many times it's more of an activist.
The financial decisions have done a great job in combating denial service attacks.
However I would note that many sophisticated hacker crews in Eastern Europe use denial of service attacks -- as almost a smokescreen.
For the activities they're doing.
Coming through the back door of your house.
I see the old diversionary tactic.
Now in terms of I think there's a level of maturity from security perspective to deal with -- attacks.
Trend Micro -- been trying to help companies and creating custom security platforms.
The issue here is really an investment one organizations need to spend more on securing of sustaining their long term infrastructure.
And you really can't take shortcuts through the -- -- a relates to you wallets and the payments.
Only very significant brands have really taken me investment perspective.
To sustain their infrastructure correctly against the criminals and I'm speaking of -- and of all the brands out there you basically say bet on Blackberry only for now.
I thought apple also was kind of -- vulnerable to hackers mainly because it didn't have a very up market share to warrant viruses on the tell.
No there's security through obscurity is gone away their walled garden is effective against 80% of -- threats out there but the hackers and I'm speaking of the ones that target financial systems.
Are fully capable of compromise in Iowa -- apple -- products and platforms.
We need to respect the fact and appreciate that the vulnerability of these systems there's been many terms -- In part due to the applications that are downloaded or to the browsers themselves so can you actually validate the safety -- hygiene of the application itself.
As it exists within your mobile device.
-- all right thank you very much very nice job appreciate your being here Tom Kellerman of -- of Trend Micro good day.
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