Mobile Banking Theft Focus of Hackers

Researchers from the security company Kaspersky Labs have determined that “almost 100,000 pieces of malicious code” had attempted to “steal data from mobile phones and tablets in 2013” – a number that is up over 40,000 during 2012, according to a recent article published by the Telegraph website. The article states that “twice as many malicious programs were found to be targeting smartphones and tablets last year compared to 2012” and according to the warnings in Kaspersky’s research, the attackers wielding these programs are “looking to steal money from bank accounts.”

The article indicates that “hackers have become obsessed with stealing money from banking apps” since the findings in the Kaspersky reports claim that this “cyber industry” is dedicated to “hacking banking apps.”  The report indicates that by the end of 2013 Kaspersky had “collected 1,321 unique samples” determining that approximately 98 per cent of these attacks targeted “Android devices” with “64 known banking Trojans aimed at the operating system.” In their research, they claim that “mobile malware” has graduated to a position where it is “becoming more focused on making profits more effectively”, according to the article.

Kaspersky’s researchers say that some of this malware has reached such a level of advancement that it can “operate symbiotically with a second virus on a user’s PC”, according to the article. They explain in the article that when this specific “virus” invades someone’s personal computer it will attempt to access online banking where it is then faced with a security gatekeeper – which then “sends a unique code to the user’s phone” not before it is intercepted by the mobile virus which begins “fooling the bank into thinking that the log-in attempt is genuine.” Kaspersky virus analyst Victor Chebyshev was quoted in the article to say, “Today, the majority of banking Trojan attacks target users in Russia and the CIS. However, that is unlikely to last for long: given the cybercriminals’ keen interest in user bank accounts, the activity of mobile banking Trojans is expected to grow in other countries in 2014.”

Read more details in the full article at the Telegraph website –  about the hacker’s obsession with gaining entrance to bank accounts – and how sophisticated and dangerous this malware has become in the past year.

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