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Managing Mobile Money
Security Challenges
Johan Taute
Manager Financial Services & Security
Agenda
o Global Security Concerns & Threats
o Mobile Money Services Security Threats
o Gaining Customer Trust from a security perspective
o Creating a safe and secure application channel
o Factors that influence mobile money services
o Managing Security Challenges
Global Security Concerns & Threats
o Targeted attacks
o Malware growth on Android Devices

o DDoS Attacks world wide
o Microsoft no longer the only target
o Java’s tough year
o Apple users no longer ‘Safe’

http://www.digitalattackmap.com
Mobile Money Services Security Threats
o Many new players in the market
o Unregulated environments

o Customers and Employees
o Highly Motivated Criminal Syndicates
o Hacktivism
Gaining Customer Trust from a security perspective
o Protect customer information
o Properly Authenticate customers
o Protect customers against fraud
o Security Awareness programs
Factors that influence mobile money services
o Security expectation of bearers
o Voice
o Data (GPRS, EDGE, HSDPA, LTE, etc)
o SMS
o USSD
o Device dependencies
o Smartphones finally penetrating the market
Creating a Safe and Secure Application Channel
o Start with security in mind
o Apply OPEN standards
o Look at PCI DSS for guidance
o Service Delivery Channels
o Traditional GSM
o Online
o Mobile Applications
Managing Security Challenges
o Build and Maintain a Secure Network and Systems
o Protect Customer Data
o Maintain a Vulnerability Management Program
o Implement Strong Access Controls
o Regularly Test and Monitor Networks
o Maintain an Information Security Policy
Managing Security Challenges – A start
o Threat modeling
o Security Awareness
o Defensive Strategies
o Supply Chain Security
o Incident Response plan

http://www.microsoft.com/security/sdl/adopt/eop.aspx
The end game …
o Your network is being monitored all the time

o You need to respond to any form of attack quickly
o You need to know that for each attack source you block another will open up

o Security is a game with an ever evolving playing field… be prepared!
Thank You

Johan Taute
Manager Financial Services and Security
Online and Transformation Programs
Landline: +27 11 848 8437
Mobile: +27 82 994 0378
Email: johan.taute@vodacom.co.za johan.taute@vodacom.co.za
Address: Vodacom Corporate Park, 1st Floor
082 Vodacom Boulevard, Midrand 1685
www.vodacom.co.za

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11

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Managing Mobile Money Security Challenges

  • 1. This document is offered compliments of BSP Media Group. www.bspmediagroup.com All rights reserved.
  • 2. Managing Mobile Money Security Challenges Johan Taute Manager Financial Services & Security
  • 3. Agenda o Global Security Concerns & Threats o Mobile Money Services Security Threats o Gaining Customer Trust from a security perspective o Creating a safe and secure application channel o Factors that influence mobile money services o Managing Security Challenges
  • 4. Global Security Concerns & Threats o Targeted attacks o Malware growth on Android Devices o DDoS Attacks world wide o Microsoft no longer the only target o Java’s tough year o Apple users no longer ‘Safe’ http://www.digitalattackmap.com
  • 5. Mobile Money Services Security Threats o Many new players in the market o Unregulated environments o Customers and Employees o Highly Motivated Criminal Syndicates o Hacktivism
  • 6. Gaining Customer Trust from a security perspective o Protect customer information o Properly Authenticate customers o Protect customers against fraud o Security Awareness programs
  • 7. Factors that influence mobile money services o Security expectation of bearers o Voice o Data (GPRS, EDGE, HSDPA, LTE, etc) o SMS o USSD o Device dependencies o Smartphones finally penetrating the market
  • 8. Creating a Safe and Secure Application Channel o Start with security in mind o Apply OPEN standards o Look at PCI DSS for guidance o Service Delivery Channels o Traditional GSM o Online o Mobile Applications
  • 9. Managing Security Challenges o Build and Maintain a Secure Network and Systems o Protect Customer Data o Maintain a Vulnerability Management Program o Implement Strong Access Controls o Regularly Test and Monitor Networks o Maintain an Information Security Policy
  • 10. Managing Security Challenges – A start o Threat modeling o Security Awareness o Defensive Strategies o Supply Chain Security o Incident Response plan http://www.microsoft.com/security/sdl/adopt/eop.aspx
  • 11. The end game … o Your network is being monitored all the time o You need to respond to any form of attack quickly o You need to know that for each attack source you block another will open up o Security is a game with an ever evolving playing field… be prepared!
  • 12. Thank You Johan Taute Manager Financial Services and Security Online and Transformation Programs Landline: +27 11 848 8437 Mobile: +27 82 994 0378 Email: johan.taute@vodacom.co.za johan.taute@vodacom.co.za Address: Vodacom Corporate Park, 1st Floor 082 Vodacom Boulevard, Midrand 1685 www.vodacom.co.za Best Network for Smartphones 11