Banking data theft on smartphones surge 196% – Are you at risk?

By Gloria Methri

Banking data theft attacks on smartphones have nearly tripled in 2024, marking a 196% surge compared to the previous year, according to Kaspersky’s latest report, The Mobile Malware Threat Landscape in 2024.

Released at Mobile World Congress 2025 in Barcelona, the report highlights a sharp increase in cybercriminal activities targeting mobile users, with over 33.3 million attacks detected globally.

The number of Trojan banker attacks on Android smartphones soared from 420,000 in 2023 to 1.24 million in 2024. These malware programs are designed to steal banking credentials, e-payment service logins, and credit card information. They are often disguised as legitimate apps or spread through malicious links sent via SMS and messaging apps.

Cybercriminals Shift Tactics to Mass Malware Distribution

Kaspersky’s findings indicate a growing trend where attackers prioritise mass malware distribution over creating sophisticated new variants. Cybercriminals exploit trending news and social engineering techniques to lure victims into downloading malware-infested apps.

“Scammers are focusing less on developing unique malware and more on distributing the same malicious files to as many victims as possible,” said Anton Kivva, Security Expert at Kaspersky. “It is crucial to enhance cyber literacy and educate everyone—from children to the elderly—because no one is completely safe from well-crafted scams designed to steal banking data.”

Trojan Bankers on the Rise but AdWare Dominates

Despite Trojan bankers experiencing the fastest growth rate, they accounted for only 6% of total attacks. AdWare remained the most widespread threat, affecting 57% of attacked users, followed by general Trojans (25%) and RiskTools (12%).

On average, cybercriminals launched 2.8 million malware, adware, and unwanted software attacks per month in 2024. Among the most active threats were:

• Fakemoney – A group of scam apps designed for fake investments and payouts.
• Triada Trojan in WhatsApp Mods – Malicious versions of WhatsApp containing malware capable of executing additional harmful actions, such as displaying intrusive ads or stealing user data.

Kaspersky’s report challenges the assumption that official app stores are entirely secure. The cybersecurity firm recently identified SparkCat, a sophisticated screenshot-stealing malware that bypassed Apple App Store security measures and was also found on Google Play. In total, 20 infected apps were discovered across both platforms, reinforcing the need for vigilance when downloading apps.

How to Protect Your Smartphone from Cyber Threats

To mitigate the risks posed by mobile malware, Kaspersky recommends the following measures:

• Be cautious when downloading apps: Even official stores like Google Play and the App Store can harbour malicious apps. Always verify app reviews and download numbers.
• Check app permissions: Avoid granting unnecessary permissions, particularly high-risk ones like Accessibility Services.
• Keep software updated: Regularly updating your operating system and key applications helps protect against vulnerabilities exploited by cybercriminals.
• Use reliable security software: Install a trusted cybersecurity solution, such as Kaspersky Premium, to detect and block fraudulent apps before they cause harm.

As cybercriminals intensify their focus on mobile banking data theft, smartphone users must remain vigilant. The staggering increase in Trojan banker attacks underscores the importance of adopting strong cybersecurity habits. Whether through awareness, secure browsing, or the use of protective software, safeguarding mobile devices has never been more critical.

With financial fraud evolving rapidly, the onus is on individuals and businesses to stay ahead of emerging threats.