Mobile Banking Fraud!

Hannes (Hannes runs Fundamo which is one of the mobile payments/mobile banking companies that I follow) over at Mobile Banking raises some issues on fraud in mobile payments in his latest post. Of particular interest to me is the case of identity theft in one of his linked stories, which identifies the consequences of lax security around opening mobile banking accounts. The sad part is that lax security in any banking environment can lead to fraud, so mobile banking is not specifically to blame.