Feeds

Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws

Yep, that one place you'd hoped you wouldn't find 'em

Providing a secure and efficient Helpdesk

The whopping 70 per cent of retail and 69 perc ent of financial services apps are vulnerable to data breaches.

That's according to an analysis of 705 million lines of code as used by 1,316 enterprise applications carried out by software analysis and measurement firm CAST. The firm reckons a growing number of data breaches and security incidents can be directly linked to poor code quality, which can be attributed to tightening project deadlines and other factors.

“So long as IT organisations sacrifice software quality and security for the sake of meeting unrealistic schedules, we can expect to see more high-profile attacks leading to the exposure and exploitation of sensitive customer data," said CAST EVP Lev Lesokhin, the exec who led the security analysis.

He added: "Businesses handling customer financial information have a responsibility to improve software quality and reduce the operational risk of their applications – not only to protect their businesses, but ultimately their customers."

CAST has, of course, a vested interest in talking up the damage from code quality problems; its technology and services are designed to identify such issues. That said, the problems caused by coding errors (crashes, or worse, security bugs) are all too real.

Input validation errors gave rise to the infamous Heartbleed bug and are among the most common class of coding error more generally. CAST found that – contrary to public perception – government IT had the highest percentage of applications without any input validation violations (61 per cent), while independent software vendors scored worst (12 per cent without violations).

The research also revealed that the financial services industry has the highest number of input validation violations per application (224), even though their applications, on average, are only half as complex as the largest application scanned.

Coding errors don't just exist in enterprise apps, of course. For example, a recent study of the 1,000 most downloaded free applications in the Google Play store by FireEye revealed that 674 (67 per cent) had SSL vulnerabilities. Any of the three SSL vulns that FireEye's security researchers looked for made the apps susceptible to man-in-the-middle attacks. ®

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.