Is Mobile Banking More Secure than Online Banking?

You likely have used your smartphone to pay a bill or deposit a check. While common today, it is still newer than traditional online banking performed via a computer and so does not have as long of a track record. While banks are continually upgrading their security systems in response to new threats and technologies, is the security of online and mobile banking equal? Some consider traditional online banking safer because it has been tested longer, is used with computers that may have better security software installed, and can be performed via home computers that are not as likely to be lost or misplaced as mobile devices. Others view mobile banking as safer because individuals tend to have their smartphones with them at all times and so can be notified more quickly of security breaches, GPS information can be used to identify transactions that occur in a different physical location from the registered location of the phone (and therefore might be fraudulent), and mobile banking accounts are often associated with a single smartphone. Mobile banking can be performed via a Web app, mobile Web site, or text messaging. Is one method safer than the other? How do the risks associated with mobile banking compare with the risks associated with traditional online banking? Would you feel safer using one or the other? Why?

Pick a side on this issue, form an opinion and gather supporting evidence, and defend your position in a one- to two-page paper.