Client Profile
A fast-growing fintech company offering digital wallets and online payment solutions needed to ensure its mobile applications (iOS & Android) were secure against cyber threats. The app handled sensitive financial transactions and personal user data, making it a prime target for cybercriminals.
Challenges Faced
Before undergoing Mobile Application Penetration Testing (Mobile Penetration testing), the company identified several security concerns:
- Potential vulnerabilities in mobile APIs that could be exploited by attackers.
- Weak encryption and insecure data storage, posing risks of sensitive data exposure.
- Inadequate authentication mechanisms, making the app vulnerable to brute force attacks and credential stuffing.
- Compliance concerns with PCI DSS, GDPR, and OWASP Mobile Security (MASVS).
- Threats from reverse engineering, which could allow attackers to modify app functionality or extract sensitive information.
Our Approach
To fortify the company’s mobile security posture, we conducted a comprehensive mobile penetration testing engagement, identifying vulnerabilities and providing remediation strategies.
Scoping & Threat Modeling
We collaborated with the client to define:
- Scope of testing (iOS & Android applications, APIs, backend services, third-party SDKs).
- Threat models specific to mobile applications, such as insecure API calls and malware injection risks.
- Testing methodologies (Black Box, Gray Box, and White Box testing)
Security Testing Execution
Using industry-standard frameworks such as OWASP Mobile Top 10 and NIST Mobile Security Guidelines, we performed an in-depth mobile penetration test, which included:
- Static & Dynamic Analysis – Reverse engineering the application to identify insecure code, hardcoded credentials, and improper API calls.
- Network Traffic Analysis – Examining how the app transmits data over Wi-Fi, mobile networks, and VPNs to detect any unencrypted transmissions.
- Authentication & Session Management Testing – Assessing the strength of login mechanisms, multi-factor authentication (MFA), and session expiration controls.
- API Security Testing – Identifying vulnerabilities such as Broken Object-Level Authorization (BOLA), insecure authentication, and rate-limiting weaknesses.
- Data Storage Security Assessment – Checking for sensitive data stored in cleartext within local storage, logs, and cache.
- Code Obfuscation & Reverse Engineering Protection – Evaluating how resistant the app is to decompilation and tampering.
- Inter-Process Communication (IPC) Testing – Detecting risks from exposed activities, broadcast receivers, and exported services in Android applications.
- Tampering & Malware Injection Testing – Attempting to modify the app’s behavior, inject malicious code, and analyze its resistance to repackaging attacks
Findings & Risk Assessment
Following the penetration test, we compiled a detailed security report highlighting:
- Critical, High, Medium, and Low-risk vulnerabilities, along with their business impact.
- Proof-of-Concept (PoC) exploits, demonstrating how an attacker could exploit weaknesses.
- A prioritized remediation roadmap to help the company fix vulnerabilities efficiently
Remediation Support & Secure Coding Practices
To ensure the mobile app remained secure, we provided:
- Secure coding guidance to help developers implement encryption, secure authentication, and data protection.
- Hands-on remediation support, assisting in fixing API security flaws and insecure mobile storage practices.
- Re-testing of high-risk vulnerabilities to confirm successful mitigation.
Compliance & Continuous Security
After implementing security fixes, the company achieved:
- Stronger security posture, eliminating critical vulnerabilities.
- Compliance readiness for PCI DSS, GDPR, and MASVS standards.
- Improved API security, preventing unauthorized data access.
- Enhanced mobile app trust, reassuring users that their financial data was safe.
Results Achieved
Within six weeks, the company successfully:
- Eliminated critical security flaws, including insecure authentication and API vulnerabilities.
- Implemented stronger encryption & secure data storage to protect sensitive user information.
- Integrated security best practices into its mobile app development lifecycle (SDLC).
- Established a regular mobile penetration testing cycle, ensuring continuous security improvements.
Conclusion
By leveraging our Mobile Penetration Testing expertise, we helped the fintech company proactively identify vulnerabilities, enhance security controls, and achieve compliance with industry regulations. Our structured approach, from threat modeling to remediation, ensured the company was well-prepared against cyber threats targeting mobile applications.
Need Mobile Application Penetration Testing?
If you’re looking to secure your mobile apps (iOS & Android) and identify vulnerabilities before attackers do, reach out to us today for a customized penetration testing engagement.
COE Security LLC
COE Security is a leading cybersecurity services provider, offering comprehensive solutions to address the evolving threat landscape. We have a proven track record of helping organizations of all sizes mitigate risks, strengthen defenses, and recover from cyberattacks. Our team of experienced cybersecurity professionals possesses deep expertise in the latest technologies and best practices, enabling us to deliver tailored solutions that meet your unique security needs.
We offer a wide range of services, including:
Security Services
- Application Penetration Testing – Assessing the security of applications by simulating real-world attacks to identify vulnerabilities.
- Mobile Application Penetration Testing – Evaluating the security of mobile applications on Android and iOS to detect potential risks.
- Web Application Penetration Testing – Identifying and mitigating security flaws in web applications to prevent cyber threats.
- Thick Client Penetration Testing – Testing desktop applications to uncover security gaps that could be exploited by attackers.
- API Penetration Testing – Ensuring the security of APIs by detecting vulnerabilities that could lead to unauthorized access or data leaks.
- Network Penetration Testing – Evaluating network infrastructure for weaknesses that hackers could exploit to gain access.
- Hardware Penetration Testing – Identifying security flaws in hardware components that could compromise overall system security.
- Operational Technology Security Testing – Protecting critical industrial control systems from cyber threats and potential disruptions.
- Cloud Penetration Testing – Assessing cloud environments for vulnerabilities to ensure the security of cloud-based assets.
- AWS Penetration Testing – Conducting security assessments for AWS environments to detect and mitigate risks.
- GCP Penetration Testing – Evaluating security risks in Google Cloud Platform (GCP) to safeguard cloud assets and infrastructure.
- Azure Penetration Testing – Identifying vulnerabilities in Microsoft Azure cloud environments to prevent unauthorized access.
- Alibaba Penetration Testing – Ensuring the security of Alibaba Cloud infrastructures against evolving cyber threats.
- AI & LLM Penetration Testing – Assessing security risks in artificial intelligence (AI) and large language model (LLM) applications.
- Red Teaming – Simulating advanced attack scenarios to test an organization’s cyber resilience against real-world threats.
- Social Engineering Service – Identifying human-related security weaknesses through phishing, impersonation, and other social engineering tactics.
- Product Penetration Testing – Evaluating security vulnerabilities in software and hardware products before deployment.
- IoT Security – Securing connected devices to prevent them from becoming entry points for attackers.
- DevSecOps & Secure Software Development – Embedding security into the software development lifecycle.
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