I have just installed KMyMoney V 4.8.00 on a windows XP (all updates installed) environment. After setting up a few accounts/entries in KMM I tried to execute the backup procedure by invoking the "File/backup" menu. The backup dialog box that opens asks for the "mount point" in which I input the folder address where the backup was to be saved (D:/Backup/KMyMoney). When I complete the "backup dialog box" procedure by selecting OK I get a visual backup progress display at the left hand bottom on the screen and in the right hand bottom it displays message "writing D:/Backup/KMyMoney/filename" The problem is the "back up progress display" stalls at 16% and no file is saved to the backup folder.
There is a tick box option on the backup dialog box "Mount this directory before backing up" which I have tried both ways with the same result as above.
I have uninstalled and reinstalled KMM with the same result achieved each time.
I am unfamiliar with Linux and its terminology.

Can anyone suggest a way to overcome this problem?

There is already a Bug #302945 report for this issue. It also contains a workaround for the problem.