We have repeatedly warned against using mobile devices for financial transactions, including online purchases; because mobile devices such as smartphones—Android and iPhone, iPad and other tablets, are targets of cyber criminals eager to inject them with financial and other malware. See Update: Cell Phones And Phishing Attacks: Do You Use Your Phone Safely?
Commenting on this year’s Black Friday and Black Monday online shopping, Ad Age digital.com recently published an article that states “Spending increased 30.3% from the previous year, with mobile devices accounting for accounted for 12.9% of all sales. That’s a 96% increase from 2011, according to IBM‘s Smarter Commerce initiative.”
In my opinion, these numbers are going in the wrong direction. We should be doing zero online financially related transactions using mobile devices until the malware threats are significantly more controlled. Yes, some anti-malware software packages are now available for mobile devices, but their level of effectiveness in protecting mobile devices is yet to be proven.
If you must make purchases online with mobile devices; at least consider using PayPal to avoid exposing your credit or debit card information during the transaction. See For PayPal, Mobile is a Booming Business.
Mobile device online shopping is a serious threat to the funds in your bank accounts, your credit rating, and to the theft your identity. Therefore, it’s important that you gravely consider these facts the next time you decide to make such an online purchase just because it’s convenient. It could be a very big mistake.
Reference: Ad Age.com article
Be very careful…it’s dangerous out there.
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