Mobile application security is becoming an increasingly important factor for consumers and organisations, thanks to a growing general awareness of emerging security vulnerabilities and the BYOD trend.
Today I’m looking at 6 statistics that highlight the need for your organisation to make mobile application security a priority rather than an afterthought.
1) 84% of Mobile Users Utilise the Same Phone for Personal and Business Use
This means that employees are putting their organisation’s data at risk if they adopt poor security practices in their own time.
For example, anyone accessing the internet from their mobile phone, and connecting with unsecured WiFi networks (for example at their local coffee shop) is putting their personal and your organisation’s data at risk.
2) 1 in 5 Android Apps is Malware
Symantec’s latest Internet Security Threat Report revealed that nearly one million Android apps were actually malware in disguise.
Veracode estimates that the average global enterprise has approximately 2,400 unsafe mobile applications installed in its mobile environment. Consider your organisation: if 84% of your employees are using the same phone for personal and business use, how long will it be before an infected app is installed by mistake?
This puts your organisation’s data at risk, so it’s vital that your organisation implements a BYOD policy to protect its sensitive data.
3) 46% of IT Decision Makers Expect Their Apps to Be Hacked Within the Next 6 Months…
Worryingly, a 2015 study by Arxan revealed that almost half of IT decision makers (with insight into the security of the mobile applications their organisation develops) expect their apps to be hacked within the next few months.
This concern is shared by a similar proportion of consumers who use their apps (48%), and indicates a significant security problem for any organisation developing mobile apps.
4) …And 82% of Consumers Would Change to a Different App If It Was More Secure
The same study found that consumers are ready to jump ship if a more secure alternative becomes available.
Making security a priority could become a key differentiator for your organisation and the mobile applications you develop – making you the secure alternative that consumers flock to when your competitors’ apps are hacked.
5) 90% of Apps Contain Critical Security Vulnerabilities
Arxan also found that most apps contain significant vulnerabilities, with 90% not adequately addressing two or more of the Open Web Application Security Project (OWASP) Top 10 Mobile Risks.
The list represents a consensus among many of the world’s leading information security experts on the most common critical security risks. If developers can’t adequately secure their applications against the most commonly identified vulnerabilities, how will your organisation cope if it’s faced with a more specialised and unusual security threat?
6) 50% of Organisations Have Zero Budget for Mobile Application Security
Fully 50% of organisations allocate no budget for securing the mobile applications they develop.
This highlights the fact that mobile application security is simply not considered for the majority of organisations, despite the growing security threats and increasing costs associated with a successful data breach.
What would you prefer: to invest in securing the SDLC (and improving the overall security of the applications your organisation develops), or to incur the costs of a data breach, which averages $7.2 million?
Discover everything you need to roll-out your own application security program, and download our whitepaper below.