Mobile banking apps are reportedly one of the biggest sources of risk for exposing personal information , according to a cybersecurity report produced by McAfee . The company 's research reportedly indicates that personal data threats are now being detected at a rate of millions per second worldwide . Mobile - based finance apps are reportedly protected from weak proprietary coding practices , which makes them vulnerable to fraud .
Mobile banking apps are becoming one of the biggest sources of risk for exposing personal information, according to a cybersecurity report produced by McAfee. The company's research reportedly shows that personal data threats are now being detected at a rate of five per second worldwide. Mobile-based finance apps are reportedly suffering from weak security coding practices, which makes them vulnerable to hacking.