FITCHBURG, Mass.-Mobile banking is secure, for now, according to credit unions participating in a Credit Union Journal mobile banking security roundtable.
"Fraudsters could only inflict a limited amount of damage in mobile banking," explained Chris Saari, AVP-Internet banking at Worker's CU here. "Fraudsters want to break in, transfer money, and get out. There's no fast cash available to fraudsters, because our mobile banking doesn't allow inter-institution transfers. And you can pay a bill, but you can't set one up."