SMobile has released a detailed report on research indicating that smartphone users are just as susceptible to man-in-the-middle (MITM) attacks as PC users. This report details the results of attempts to produce MITM attacks to determine whether it is possible to intercept SSL encrypted communications between various smartphone devices and servers. Of the devices that were tested, each of the major smartphone operating systems appeared to lack the ability to natively detect and defend against MITM attacks, allowing the testing team to intercept sensitive information that should have been encrypted via SSL.

Paper can be downloaded here:
http://threatcenter.smobilesystems.com/?page_id=1331

thanks to MAYANK