Mobile app use continues growing rapidly, but businesses are not keeping pace with security. According to new research from IBM Security and the Ponemon Institute, nearly 40% of more than 400 large companies studied, including many in the Fortune 500, aren’t taking the right precautions to secure the mobile apps they build for customers. reveal shocking state of mobile app security.
Organisations are failing to protect corporate and mobile devices, despite malicious code infecting more than 11.6 million mobile devices at any given time. This means that organisations are leaving a host of data - user, corporate and customer - wide open to hackers.
In figures which should be of very real concern to business leaders, 40% of large companies are leaving their businesses open to attack, while a shocking 50% devote zero budget whatsoever towards mobile security.
However, the budget is most certainly there for mobile app development, with an average $34 million spent by companies annually. Of this budget, many would assume a large chunk would be dedicated to security - the study reveals otherwise.
Only 5.5% of the average £34 million budget is currently being spent to secure mobile apps against cyber attacks - a shocking statistic in a world where mobile workforces and hackers are both on the rise.
The study highlights how the creation of apps is driven by end user convenience, resulting in 65% of organisations putting app security at risk due to customer demand or need. 77% of those surveyed stated "rush to release" pressures as a primary reason why mobile apps contain vulnerable code.
When it came to app testing, the study revealed further worrying results. The average company, the study revealed, tests less than half of the mobile apps they build, with a further 33% never testing their apps. This creates a plethora of entry points to tap into business data via unsecured devices.
"Building security into mobile apps is not top of mind for companies, giving hackers the opportunity to easily reverse engineer apps, jailbreak mobile devices and tap into confidential data," said Caleb Barlow, Vice President of Mobile Management and Security at IBM.
"Industries need to think about security at the same level on which highly efficient, collaborative cyber criminals are planning attacks. To help companies adopt smart mobile strategies, we've tapped the deep security expertise of IBM Security Trusteer, bringing what we've learned from protecting the most sensitive data of complex organizations - such as top global banks - and applying it to mobile."
Organisations are failing to protect corporate and mobile devices, despite malicious code infecting more than 11.6 million mobile devices at any given time. This means that organisations are leaving a host of data - user, corporate and customer - wide open to hackers.
In figures which should be of very real concern to business leaders, 40% of large companies are leaving their businesses open to attack, while a shocking 50% devote zero budget whatsoever towards mobile security.
However, the budget is most certainly there for mobile app development, with an average $34 million spent by companies annually. Of this budget, many would assume a large chunk would be dedicated to security - the study reveals otherwise.
Only 5.5% of the average £34 million budget is currently being spent to secure mobile apps against cyber attacks - a shocking statistic in a world where mobile workforces and hackers are both on the rise.
The study highlights how the creation of apps is driven by end user convenience, resulting in 65% of organisations putting app security at risk due to customer demand or need. 77% of those surveyed stated "rush to release" pressures as a primary reason why mobile apps contain vulnerable code.
When it came to app testing, the study revealed further worrying results. The average company, the study revealed, tests less than half of the mobile apps they build, with a further 33% never testing their apps. This creates a plethora of entry points to tap into business data via unsecured devices.
"Building security into mobile apps is not top of mind for companies, giving hackers the opportunity to easily reverse engineer apps, jailbreak mobile devices and tap into confidential data," said Caleb Barlow, Vice President of Mobile Management and Security at IBM.
"Industries need to think about security at the same level on which highly efficient, collaborative cyber criminals are planning attacks. To help companies adopt smart mobile strategies, we've tapped the deep security expertise of IBM Security Trusteer, bringing what we've learned from protecting the most sensitive data of complex organizations - such as top global banks - and applying it to mobile."
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