Over 1800 global banking apps targeted by 29 malware variants

    In recent months, a staggering 29 malware families have been discovered targeting approximately 1800 banking applications worldwide. This revelation, based on a comprehensive survey conducted by security firm Zimperium, involved insights from over 2000 respondents spanning 61 countries.

    Outlined in their 2022 Malware report, Zimperium highlighted the infiltration of around 10 sophisticated malware families affecting 600 banking apps. These malicious entities demonstrated an ability to elude security measures, showcasing a high level of sophistication in their design.

    The impact of these malware attacks was most pronounced in the United States, where over 108 banking applications fell victim to infections. The United Kingdom followed closely with 48 compromised banking institutions, and Italy secured the third spot with 44 instances of bank-related apps succumbing to malicious software attacks.

    What adds to the gravity of the situation is the revelation that many of these malware variants exhibited the capability to execute unauthorized money transfers without the victim’s knowledge. Additionally, seven of these malicious programs could share the victim’s screen while delivering a new payload, enabling automated follow-up calls to establish trust.

    This alarming scenario underscores the urgent need for banks providing online mobile services to implement proactive security measures. As an increasing number of customers seek the convenience of fingertip services, compromising the security of their data and earnings becomes an unacceptable risk.

    While financial institutions bear significant responsibility for safeguarding their mobile banking apps, customers must also exercise vigilance. In the dynamic cyber landscape, awareness of existing threats is crucial, prompting individuals to take precautionary measures to shield their data and finances from potential hackers.

    Naveen Goud
    Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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