Mobile Banking Trojans Increase by 117% H1 2022
The majority of the population in developed countries has integrated mobile banking into their everyday lives surprisingly quickly and seamlessly. The adoption of mobile banking was successful because financial institutions and fintechs ensured that their applications were user-friendly, convenient, and extremely secure.
However, since financial gains from finding loopholes in mobile banking applications could be sky-high, hackers are working day and night to figure out how to break into these apps.
While the mobile banking industry is in its golden age, the amount of attention from cybercriminals is also at an all-time high.
Consequently, the number of mobile banking trojans reached a record-breaking 109,561 detections in H1 2022, representing a 117% increase over the 50,450 detections in H2 2021.
The data for the analysis was extracted from Kaspersky’s official website, where the company shares data collected from its users.
Nearly half (49.28%) of the detections in H1 2022 were part of the Trojan-Banker.AndroidOS.Bray family. This malware type is considered to be a severe threat to the infected system.
Mobile banking threats, like most other trojans, infect the device by installing apps from unknown or unverified download sites, exploiting vulnerabilities, or being downloaded by other malware.
Mobile trojans are designed to target mobile financial applications in order to commit on-device fraud and siphon cash straight from victims’ accounts.
Trojans often have a narrow target scope, focusing on a particular OS and a few financial platforms, like Paypal, Barclays, Binance, etc.
Source: https://www.digitalinformationworld.com/
