According to a recent report from the financial services sector, despite an increase in MDM deployments, workers in the financial services secure have seen significant jumps in exposure to phishing and malware.

As Security Boulevard reports, “even while MDM adoption rose to 50%, quarterly exposure to phishing between 2019 and 2020 jumped by 125%,” with a 400% increase in malware an app exposure. Additionally, “about 20% of mobile banking customers were using a trojanized app on a mobile device when they tried to log into a personal mobile banking account.”

According to the research, a big part of the issue is how many users are still running an old version of iOS or Android’s operating systems. Lookout research showed 21% of iOS devices on an old version, while nearly 32% of Anroid devices were on Android 9 or earlier (Android 11 is the current version).

According to the research, the increased exposure to mobile phishing was significantly worse in financial services than any other industry. That is, of course, less than ideal given the financial ramifications involved with phishing and malware in the financial services sector (where lots of money changes hands every day).

The most interesting aspect of this report, to us, is that all of this is happening in the face of a rising number of MDM deployments. Obviously, many companies turn to a mobility management solution (like MDM in this report, or MAM for App47) to help manage security for their employees’ devices. If there’s one thing that’s clear to us from this report, it’s that your mobility management solution is only one piece of the overall security puzzle.

While security absolutely must be a key concern in your enterprise mobility strategy, deploying an MDM or MAM is no excuse to rest on your laurels. As any industry security professionals already know, the front line of security is your employees (or other end users). Regularly briefing them on the importance of maintaining current operating systems, regularly updating apps (which you’re able to manage through the App47 platform), and keeping an eye out for abnormal behavior is an essential part of your overall security strategy.

To learn more about how App47 can strengthen your security profile, and how it ought to fit into your overall security strategy, contact us today.

Photo by Franck on Unsplash