A New Taxonomy of Mobile Banking Threats, Attacks and User Vulnerabilities

Mobile banking becomes an interesting technique within the modern bank establishments. It facilitates the transactions and day lifestyle of customers. It minimizes the impact of location and time for doing bank activities and communicate with bank servers. However, the process is exposed to risks from attackers and hackers, especially, user behaviors that open and create much vulnerability in this system. This work presents a new taxonomy for mobile banking attackers and threats. Through this taxonomy, this work will identify the important user vulnerabilities that attackers may misuse for penetrating systems and steal privacy and sensitive data. The main contribution of this work is to provide important suggestions for mobile banking users so that they can take them as a precaution for protecting their privacy and financial aspects. The work concluded that there are many user behaviors of mobile banking which lead to threats in the systems. The work presents many suggestions for users so that their systems can be protected from malicious activities and malwares. Also, many future aspects have been presented.