There is a new and very serious data scandal rising up with iPhones that Apple is being asked to shutdown. There are a number of major companies who are now secretly recording your every move on their iPhone apps without your permission or even your knowledge. They are actually recording every keystroke you make. The list of companies are Abercrombie & Fitch, Air Canada, Expedia, Hollister, Hotels.COM, and Singapore Airlines to mention a few.
According to an investigation by App Analyst, they checked apps created by Glassbox by reviewing their listed customers to see exactly what data was leaving their iPhones and going back to the companies. According to TechCrunch, none of the apps that were checked bothered to tell the client that they were recording their screens or that they were sending the information back to each company. This type of surveillance to see what you might be interested in buying next is EXTREMELY dangerous. This is going way too far and we really do need laws to prohibit this type of data collection. They are capturing everything including your banking details.
What is becoming painfully obvious is you SHOULD NOT use your phone for financial transactions — PERIOD!!!!! Additionally, get a cheap laptop and use that for any financial transactions with NO OTHER apps for movies, travel, or anything. Segregate your financial transactions from the rest of your activities.