Improper Certificate Validation
The "Algonquin State Bank Mobile Banking" by Algonquin State Bank app 3.0.0 -- aka algonquin-state-bank-mobile-banking/id1089657735 for iOS does not verify X.509 certificates from SSL servers, which allows man-in-the-middle attackers to spoof servers and obtain sensitive information via a crafted certificate.
CWE-295 - Improper Certificate Validation
The authenticity component of a web system stems from the ability to validate “Digital certificates”, which (i) establish trust between two or more entities sharing data over a network; (ii) ensure data at rest and transit is secure from unauthorized access; and (iii) check the identity of the actors that interact with the system. An application with absent or ineffective certificate validation mechanisms allows malicious users, impersonating trusted hosts, to manipulate the communication path between the client and the host, resulting in unauthorized access to data and to the application’s internal environment, and potentially enabling man-in-the-middle attacks.