I know a Mgr. at a major bank and she told me the majority of fraud cases she has to deal with have to do with people using their mobile phones to do their banking with. She said there does not seem to be the protection on a mobile phone.
I’ve worked a lot with banks from an IT security perspective. There is an incredible amount of fraud associated with their business. No way in heck is the majority of it related to mobile phones.
Business managers at banks are about the last people I’d take technical advice from.
Doesn’t pass the smell test.
Most banks don’t have smartphone apps, so in order to do banking, you either use their website on your mobile browser, which is no less secure than a desktop PC, or you use text messaging, of which nowhere does a feature exist to withdraw money via text message that I know of.
With many banks requiring two-factor authentication and SSL (so no eavesdropping on wifi networks), I find it hard to believe that any fraud happens on the consumer end. Hacked websites with credit card lists seems like a far bigger threat to me.