Law Commons^™

Securing Mobile Technology & Financial Transactions In The United States, Eleanor Lumsden

Publications

One of the paradoxes of modern life is the conflict between convenience and security. Advances in technology simultaneously usher in progress and pain. The development of mobile and smartphone technology will have a significant positive impact on financial transactions and the average consumer’s access to financial services. Nevertheless, there are several reasons to secure mobile technology and financial transactions in the United States. First, cell phones increase the risk to personal security and most U.S. wireless carriers are using outdated encryption technology. Second, many cell phone users are more concerned with convenience—caring more about the availability and functionality of smartphone …