CDSA

Mobile Banking Trojans Becoming a Major Threat (ITProPortal)

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New research has revealed that consumers who use mobile banking apps are at a greater risk of being targeted by cybercriminals and falling victim to mobile banking threats.

Security firm Avast conducted an online survey of 40,000 consumers in Spain and eleven other countries in which it asked users to determine whether a banking app was fake or authentic. Of those surveyed, 58 per cent identified the official mobile banking app as fraudulent while 36 per cent believed that the fake app was indeed the genuine one. The findings of the survey highlighted the extent to which cybercriminals are willing to go to create sophisticated and accurate clones of trusted mobile apps to spy on consumers, obtain their banking credentials and steal funds from their accounts.