As mobile-money services were growing at a rapid clip in the developing world 10 years ago, University of Florida computer scientists and cybersecurity experts Kevin Butler and Patrick Traynor were early sentinels, raising concerns about the lack of security that could lead to real problems for the user. <\/p>\n\n\n\n
In a 2014 study, the two professors from UF\u2019s Department of Computer and Information Science and Engineering, uncovered security vulnerabilities<\/a> of mobile cash apps, especially in the Global South, where such technologies were becoming essential in the absence of robust banking systems. <\/p>\n\n\n\n \u201cOur early work uncovered issues of security and privacy when using finance apps,\u201d said Butler, director of the Florida Institute for Cybersecurity Research<\/a> at UF. \u201cWe showed these apps could be hacked, and the consumer has no recourse. We\u2019re often talking about populations where they have very little money to start with, so any type of hack could wipe them out.\u201d <\/p>\n\n\n\n Fast forward to today, Butler and colleagues developed a comprehensive framework for securing mobile money applications that earlier this year was ratified and endorsed by the International Telecommunications Union<\/a>, a United Nations specialized agency, marking a significant step toward safer digital financial transactions worldwide. All United Nations member states voted to endorse these recommendations.<\/p>\n\n\n\n