Security on CDMA for Banking Applications

[<shankarnarayan.d () netsol co in>]

Hi,

  I have a client in a South Asian country that wants to run some Banking Applicationns over CDMA Wireless. Why CDMA ? 
- its just becos he has bank branches at places where there are no other means of communication - no Leased/ ISDN or 
any other form of links. The apps/ middlewares by themselves dont encrypt the data as it travels over Wire/ Wireless. 
The Apps run on TCP/ IP with dumb terminals connecting to the same; with a proprietary middle ware that enables this 
Apps to terminal interconnection

I would like to know 

a. Is it advisable to run banking apps (include financial transactions) over CDMA
b. What perceived Security threats are there when doing so
c. What methods are available to overcome these (hardware/ software etc) - any suggestions for products
d. What inherent Security is available in CDMA 
e. Any previous experiences for the same

Thanks
Shankar