Dutch security firm XS4All reports that a worm can infect iPhones and permit hackers to steal information from them. The worm, attacks iPhones that users have altered with software with which the phone can run programs not approved or supported by Apple.

The worm discovered by XS4All was directed at customers using their iPhones to conduct banking with ING Group a financial institution in the Netherlands. After taking over the device, the worm sends data from the phone to a server in Lithuania.

41st Parameter is a US security software company which also believes there will be a great deal of fraud from smart phones. Since the phone technology is so new, there are limited anti-fraud weapons available to combat it.

Cybercriminals are always looking for easy targets. Right now, smart phones are vulnerable targets. There will be lots of damage done before security catches up to the sophisticated technology used by cybercriminals. So be very careful when using your mobile phone to conduct private financial transactions.

For more information, contact info@paynetsecure.net

Researcher comScore reported that online spending on Cyber Monday, the Monday after Thanksgiving, was $887 million, representing a 5% increase over $846 million on 2008’s Cyber Monday. The November 30^th volume matched the heaviest online shopping day comScore previously tracked, which was on December 9, 2008.

Comscore said 8.7 million buyers made purchases on Cyber Monday, up 6% from 8.2 million in 2008. However, the average ticket declined 1.5% to $102.19 from $103.72 in 2008.

First Data also tracks holiday spending patterns with its SpendTrend monitoring service. First Data reported transaction volume on “Black Friday,” the day after Thanksgiving increased 7.9% over a year earlier.

Debit cards were the main reason for growth. Debit transactions rose 8.9% and charge volume grew 7.6%. Black Friday transaction volume on credit cards and signature debit cards increased 5.8% over 2008 but dollar volume increased a mere 2.5%.

PayPal said total payment volume on Cyber Monday increased about 20% over 2008. Black Friday volumes grew 20%, and Thanksgiving Day volumes grew about 25%.

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