Page 142 - Cyber Defense eMagazine January 2024

Emerging Threats and Consumer Fears

The problem? Attackers are ahead of most consumers and mobile developers alike and are quickly
evolving thanks to breakthrough technologies like artificial intelligence and mobile bot adoption across
the globe. The landscape of threats has evolved so much, in fact, that more sophisticated challenges are
emerging including accessibility service malware, screen overlay attacks, and credential stuffing – all of
which are taking center stage in 2024. The fear of unprotected or compromised mobile apps leading to
unauthorized data access, account takeovers or fraudulent transactions has become a prevalent concern
with few brands taking it seriously outside of traditionally regulated spaces, such as healthcare and
finance.

Consumer Awareness and Responsibility Hierarchy

Additionally, consumers are becoming more aware of the potential misuse of on-device or over-the-wire
exploits, raising questions about the security of their personal data directly with brands, and when those
same questions go unanswered, they abandon brand loyalty altogether in search of a competitor who
can offer mobile app protection. Beyond this, consumers are not only aware of the threats but are
educating themselves enough to establish a clear hierarchy of responsibility when it comes to mobile app
defense. Nearly 60% of global consumers believe that the primary responsibility lies with the mobile brand
or developer, according to the survey results. This insight indicates a growing cyber-savviness among
consumers who evaluate the risk associated with using mobile apps. Additionally, the fastest-growing
concern among consumers is that brands may not care enough, indicating that more needs to be done
between brands and developers.

Developers' Dilemma: Balancing Features and Security

While consumers prioritize security, developers find themselves in an ongoing debate about balancing
features and security. The survey reveals that nearly 90% of all surveyed believe that security is equally
or more important than features. This shows an emerging pattern for consumers, and a nuanced
understanding and recognition that only robust security measures in mobile applications can be effective
in protecting their personal data and information.

The Developer's Action Plan

Considering these insights, developers face the imperative task of revamping their mobile business
protection strategy. Traditional methods like network protections and client-side compliance are deemed
inadequate in the face of diverse devices and evolving threats. The action plan for developers involves:

1. Proactive prevention over reactive recovery: Acknowledge the inadequacy of network-level
protections and prioritize investments in meeting user expectations for security, anti-fraud
measures and malware prevention in mobile apps. Focus on proactive prevention rather than
reactive recovery.

Cyber Defense eMagazine – January 2024 Edition 142
Copyright © 2024, Cyber Defense Magazine. All rights reserved worldwide.