Your local database contains transactions and settings which can be used for malicious purposes. The parts of encrypted provider authentication details kept in the local database can't be used for unauthorised access to your bank accounts.
We employ a number of mechanisms to protect your local database:
In fact, it is technically possible to break Android security and local storage encryption
and to view your downloaded transactions if your phone is lost or stolen.
It is technically impossible to get access to your Internet banking accounts by breaking into the device local database.
By using Bank Control™ client application you accept the risk described above.