Summary

Within the last few years, a great variety of remote payment networks using mobile networks have been established. While implementing different approaches, quite often they lack of security. At the same time communication networks, including mobile networks, yield substantial changes undergoing transition to the next generation networks (NGN).

Recommendation ITU-T Y.2740 elaborates approaches to develop system security for mobile commerce and mobile banking in the next generation networks (NGN). It describes security requirements for the mobile commerce and the mobile banking systems, based on four specified security levels. It outlines probable risks in mobile commerce and mobile banking systems, and specifies means for risk reduction.