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RE: SMS Banking
From: "Thor (Hammer of God)" <Thor () hammerofgod com>
Date: Fri, 5 Feb 2010 18:27:53 +0000

SMS based solutions are inherently insecure; not just from the application level, but from the carrier level.  You're 
assuming the carrier media is secure, which is not the case as Karsten showed at the CCC when he cracked GSM.  

I think you would be far better served to create a client side application (client specific of course) where you could 
build security into the application itself, use SSL, etc for client-to-server inquiries and transaction execution.

t

-----Original Message-----
From: listbounce () securityfocus com
[mailto:listbounce () securityfocus com] On Behalf Of Doug Farre
Sent: Thursday, February 04, 2010 3:04 PM
To: M.D.Mufambisi
Cc: pen-test () securityfocus com; security-basics () securityfocus com
Subject: Re: SMS Banking

Mobile phone numbers can be spoofed. My piece of advice is that all
transactions must be acknowledged by the user. For instance, user
makes a request, system asks the user if for confirmation, then the
system proceeds.

Also, keep in mind that a lost cell phone can mean the user's pin is
compromised as the sms msgs are all stored in plain text.

On Thu, Feb 4, 2010 at 10:20 AM, M.D.Mufambisi <mufambisi () gmail com>
wrote:

Hi All,

Im designing an SMS baking application but i need to research on the
security risks involved first. Im thinking of subscribing mobile
phone
number along with a pin. eg Number 222-222-222 PIN 20029. So when the
individual wants to enquire his balance, he sends a text messgae like
Bal 20029 i.e. BAL PINNUMBER. The control here is that the sms and
pin
has to come from the subscribed number and only that number. I also
want to be able to allow subscribers to tranfer funds to pre
determined service providers such as utility companies etc.
What are the risks around this application? How are such applications
normally subverted? Are there any case studies someone can point me
to? What are the various authentication methods as i appreciate mine
can not be the best?

Your help will be most appreciated.

Munyaradzi

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--
------
Doug Farre
(209) 677-7483

Sent from Houston, TX, United States

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------------------------------------------------------------------------
Securing Apache Web Server with thawte Digital Certificate
In this guide we examine the importance of Apache-SSL and who needs an SSL certificate.  We look at how SSL works, how 
it benefits your company and how your customers can tell if a site is secure. You will find out how to test, purchase, 
install and use a thawte Digital Certificate on your Apache web server. Throughout, best practices for set-up are 
highlighted to help you ensure efficient ongoing management of your encryption keys and digital certificates.

http://www.dinclinx.com/Redirect.aspx?36;4175;25;1371;0;5;946;e13b6be442f727d1
------------------------------------------------------------------------


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