Incognia has conducted a study on the state of location spoofing in 24 leading dating apps around the world.
Incognia reviewed the authentication process for login, password reset and device change on twenty one leading cryptocurrency mobile apps.
Incognia reviewed the identity verification and authentication methods used in onboarding new customers on nineteen leading cryptocurrency mobile apps.
Incognia reviewed the authentication methods of twenty-seven major mobile financial applications and discovered a lot of friction and weak MFA.
The end goal of fraudsters on mobile is account takeover (ATO). For fintech apps, ATO can result in funds being transferred out of a user’s account. For mcommerce apps, ATO results in loss of funds from mobile wallets, gift cards and also chargebacks to the vendor.
Mobile devices use a variety of location technologies to deliver a growing number of location aware services for transportation, gaming, social and mcommerce. The location-based services market will reach $40 billion by 2024, according to a report by MarketsandMarkets.