Workshop: Addressing the Technical Security Challenges of Emerging Digital Financial Services

University Of Florida, Gainesville FL

Investigators

Abstract

While wealthier individuals throughout the world have access to cashless payment systems (e.g., credit and debit cards) that are managed by a secured and insured financial infrastructure (e.g., banks and other financial institutions), many of the world's poor lack banking or credit accounts. Emerging digital financial services are now offered as "mobile money apps" by companies operating in various countries and are widely used. Unfortunately, the researchers have found that the cybersecurity protections provided by many of these apps are far weaker than those provided by the traditional financial institutions. Thus, many of the world's poorest people unknowingly risk their money by using badly protected mobile money apps. This workshop brings together cybersecurity experts from academia and industry, as well as government policy makers and representatives from non-governmental organizations. The participants will develop and document specific technical recommendations for mobile money app security properties. Cybersecurity researchers, students and engineers have expressed their interest in working to improve cybersecurity for emerging digital financial services. By developing and documenting specific technical recommendations for mobile money app security, this workshop will provide guidance on concrete actions that can be taken by the research and development communities. While identifying technology approaches to improving cybersecurity in mobile money apps, the workshop will encourage new cross-disciplinary collaboration among participants, as they work together to address this challenging problem.