A major financial institution commissioned us to conduct a security audit of their new mobile banking app to protect sensitive customer data and financial transactions.
Table of Contents
Overview
Our comprehensive security audit focused on identifying and resolving vulnerabilities in the mobile banking application’s core functionality, data protection mechanisms, and user authentication systems. The project aimed to ensure robust security for customers’ financial transactions and sensitive data.
Challenges and Risks
Authentication Vulnerabilities
Insufficient mechanisms could allow attackers to access accounts or perform transactions.
Backend Infrastructure Vulnerability
Weaknesses could lead to unauthorized access or manipulation of customer data.
API Security Gaps
Unsecured interfaces could enable attacks on transaction systems.
Potential Phishing Threats
Insecure integrations could be exploited by attackers to intercept user information.
Approach
White-Box Testing
The source code was examined for vulnerabilities in authentication and access mechanisms.
Black-Box Testing
Simulated attacks were conducted to identify vulnerabilities in the user interface and backend systems.
Penetration Tests
The entire app infrastructure, including API and databases, was tested for vulnerabilities.
Assessment of Transaction and Verification Processes
All processes were reviewed to ensure they are tamper-proof and fraud-resistant.
Results
- 23 Vulnerabilities Resolved: Including 3 classified as critical security gaps that enabled unauthorized access.
- Enhanced Authentication Mechanisms: Introduction of stronger mechanisms to protect user accounts and transactions.
- Increased API Security: All API endpoints were hardened to prevent unauthorized access.
- Compliance with International Standards: The app met the industry’s strict security requirements.