Dive Brief:
- Three-quarters (77%) of companies surveyed by Ponemon and IBM say that the pressure to release new mobile apps is making them take shortcuts on data security.
- Among the more than 400 organizations surveyed, the study found that almost 40% don’t review code for security weaknesses.
- With servers now more secure, cybercriminals are rapidly turning to mobile apps to target their attacks.
Dive Insight:
Demand for mobile apps is putting users’ private information at risk, according to a new study from Ponemon Institute and IBM. Among more than 400 organizations surveyed, including many Fortune 500 companies, the study says almost 40% don’t review code for security vulnerabilities, and one-third (33%) never test their apps.
More than 1 billion personal data records were breached in 2014, with annual losses due to mobile fraud costing businesses $240 million annually. While companies have made moves to secure their servers, mobile apps are the new weak link in the security chain.
Mobile apps are becoming a valuable way for retailers to reach shoppers in stores with beacons, and during their everyday lives with useful tools like shopping list apps. Retrofitting apps to be more secure is impossible, the study says, so retailers need to start building security into their apps at the outset to avert cybercrime, data breaches, and business disruptions.