Jake Moore, Security Specialist at ESET

The global impact of banking Trojans has increased by 50% during the past four months, with two Trojan malware families entering the Index’s top ten ‘most wanted’ ranking, according to Check Point’s latest Global Threat Index for June 2018.

In June 2018, Dorkbot, a banking Trojan that steals sensitive information and launches denial-of-service attacks affected 7% of all organisations across the world, moving up from number eight to number three in Check Point’s Most Wanted Malware list.

Pieter Oosthuizen, Product Owner, Entersekt said: “The concern here is the ability of malicious mobile phone applications to take control of, or influence, your banking application and your communication with your bank. One approach to this problem is to enable banks to secure the specific instance of their banking application on their customer’s mobile phone, as well as through confirming the integrity of the mobile phone itself, and finally to set up an end-to-end encrypted channel between the bank and its customer. This ensures that the bank’s application, as well as its communication between the bank and the customer, is protected from influence by other applications on the mobile device. So, although the malware and cryptomining trojans might waste your battery life, they will not be logging into your bank account.”

Jake Moore, Security Specialist at ESET said: “Malicious and fake apps continue to be a way in to steal data or cause havoc. Especially when it comes to banking trojans where the primary motivation being to steal sensitive information and launch denial-of-service attacks.

A few simple steps can help protect you when it comes to mobile applications. Avoid third-party app stores when downloading any app or at least try and research it. Look for the name of the app developer and try and research them too. It’s easy to accidentally download a copycat app, but you can prevent such a mistake by verifying that the manufacturer’s name is genuine.

User reviews are usually particularly helpful in locating malicious apps. Popular apps will always have lots of reviews and often by experts alike. It’s also always a good idea to install mobile device security software. Mobile security has come on vastly these days and can help add another tool in the fight against such attacks.”

by Bill Boyle
IBS Intelligence Senior Editor