With the increasing use of mobile devices, mobile applications are becoming an integral part of our daily lives. However when it comes to mobile app security, many businesses throughout the world are still struggling to secure their business applications.
Unsecure mobile apps can be vulnerable to a wide range of malicious attacks, leaving users at risk of losing their personal information and data. That’s why as a business it’s essential to secure your mobile apps to protect your users and your business.
In this blog post, we will discuss the top four reasons why businesses must secure their mobile apps along with 4 ways you can secure them.
The Rise of Mobile Application Threats
According to experts, cybercrimes increased 600% just last year, and are expected to cost USD 10 Trillion in damages by 2025. Mobile apps have become an integral part of our daily lives, in fact, according to experts, a single user can have on average 40 applications installed in a single device — indicating the increasing reliance and adoption of mobile applications.
The increase in the usage, adoption and number of mobile applications is also increasing the attack surface for adversaries. Malicious cybercriminals now can leverage over 300 app stores to create and spread fake, malware-infused, and fraudulent applications to trick unsuspecting users. Apart from that, adversaries can leverage powerful attack vectors to find vulnerabilities in mobile applications to wreak havoc on businesses and users alike.
With the popularity of mobile applications on the rise, so too are the threats associated with them. As more and more users turn to their mobile devices for everything from banking and shopping to entertainment and social media, it’s becoming increasingly important to protect these apps against malicious attacks, especially when it comes to financial or banking applications. In fact According to experts 77% of financial mobile apps have at least one serious vulnerability that could lead to a data breach.
In addition to these alarming facts, here are the top four reasons you should secure your mobile app:
1. Unsecured apps can lead to data breaches
According to recent research, 90% of all mobile applications are vulnerable to advanced security attack vectors. This means that your app is likely vulnerable to malicious attacks if you don’t take the necessary precautions to secure it.
Mobile applications can store valuable information such as user credentials, passwords, and payment information. If this data is compromised in a data breach, it could have devastating results for both users and the business.
Related article: 5 Security Threats Facing Modern Super Apps
2. Malicious apps can infect your device with malware
Malicious software can be used to gain access to users’ personal information. Malicious malware-infused apps can infect your device with malware that can wreak havoc on your personal data, financial accounts, and even lead to identity theft. Such malware-infused apps can steal or delete important data from your phone, including passwords, contacts, and other sensitive information.
3. Susceptibility to Unauthorized Access
Mobile applications are greatly susceptible to vulnerability exploitation attacks that result in unauthorized access and other complications. Unauthorized access occurs when a malicious actor gains access to your mobile app through various methods, such as exploiting weak passwords or vulnerable code.
Insecure apps can also be vulnerable to exploitation by malicious third parties, allowing them to gain access to confidential data or otherwise manipulate the app for their own purposes. Without adequate authentication measures in place, hackers can gain access to sensitive data, steal customer information, and even take control of the entire application and can affect your business in multiple ways.
4. Inherent Vulnerabilities
Not all mobile applications are developed while keeping best security practices in mind. Not only does this increase the chances of in-built security flaws and loopholes, but also put the users and the overall security posture of the business at risk.
Mobile applications need continuous monitoring through an in app protection solution and updates to satisfy the changing demands of the users in terms of functionality and functions. Many businesses also often neglect to implement proper security measures and best practices while developing and releasing new features, which can also lead to adversaries exploiting the zero-day flaws.
DevSecOps practices and baked-in security practices are critical when it comes to developing secure applications.
4 Ways to Secure Your Mobile Apps
Securing your mobile application is essential in today’s digital age. Whether you’re developing a new app or already have one in use, take the necessary steps to ensure that your application is secure and protected against malicious attacks. To help you get started, here are the top 4 tips that can help you secure your mobile applications.
- Data Security: Securing your mobile app ensures that your customer’s data remains safe and secure. Without proper security measures in place, malicious actors may be able to gain access to customer information or even use the app to attack other systems. Businesses must use data security measures such as encryption to maximize data security of both businesses and app users.
- User Authentication: User authentication helps protect against unauthorized users attempting to access your application. This can be done by implementing strong passwords and two-factor authentication. By requiring app users to use 2-Factor authentication, businesses can prevent malicious actors from gaining access to sensitive data or performing other malicious activities.
- Secure APIs: Most mobile apps rely on Application Programming Interfaces (APIs) for communication between the app and its backend services. These APIs should be properly secured to ensure that only authenticated users are allowed access. Implementing encryption, token authentication, and other security measures can help protect against potential threats from malicious actors.
- Reduce Malware Threats: Malware can be a serious threat to your mobile app. By implementing proper security measures such as in-built sandboxes, antivirus software and intrusion detection systems, you can reduce the risk of malware entering your applications.
Build38 can secure all mobile applications
Mobile apps are becoming increasingly popular for accessing online banking accounts, shopping, and managing other important personal information. However, the convenience of mobile apps can come at a cost if you don’t take steps to secure them.
Without the proper security measures in place, your app can be vulnerable to malicious attacks, data theft, and other threats. However, with the right approach, you can ensure that your app is as safe and secure as possible. It is important to keep in mind that the above listed measures will help protect your applications, they are not foolproof. Regularly updating your security measures and counting on application security experts like Build38 is the key to keeping your apps secure.
Discover our In-App protection solution with advanced security features to protect consumer apps from mobile threats and risks here or contact us today to get a demo.
