The Wall Street Journal

A study of seven mobile-money applications in Brazil, India, Indonesia, Thailand, and the Philippines by University of Florida researchers found all but one had severely inadequate security measures. "It was worse than we expected," says University of Florida professor Patrick Traynor. One of the apps, India-based MoneyOnMobile, appeared to use encryption to shield data, but did so by transmitting sensitive data to a server unprotected before encrypting it, thus enabling the theft of the data. A second app, Airtel Money, employed encryption but attempted to protect the data using an easily guessable key composed of the same sequence of eight numbers and letters followed by the person's phone number and account number. To read further, please visit http://blogs.wsj.com/digits/2015/08/11/researchers-find-security-flaws-in-developing-world-money-apps/.