iPhone worm steals banking details

As unwelcome as a virus, the Duh Worm can take control of iPhones made vulnerable by their users, Reuters report. Hackers have engineered a virus that can take advantage of iPhones have been unofficially disconnected from Apple’s distribution control mechanism, the App Store. The process is called jailbreaking and originated as a means to get free ringtones.

Nanny Apple will only allow iPhone use on its partner service providers and customers can choose only official applications, vetted through the App Store. This policy decision riles many and has driven some developers to favour less rules-heavy platforms, like BlackBerry and Symbian. Some even release applications to unlicensed rival stores, like Cydia. Thousands of unauthorised apps, including Wi-Fi access, VoiP applications and porn continue to drive this grey market.

The worm is being investigated after Dutch bank ING discovered a criminal network attempting to steal banking credentials via hacked iPhones. ING confirmed it had no reports of illegal transactions, but it was monitoring customer accounts closely. Last month a similar worm took advantage of users who didn’t change passwords from the default option.

This is a scare story, a cautionary tale affecting only a handful of users. However a bit of flexibility from Apple, a softening of its App Store approval policy and the introduction of parental controls for those that want them would go a long way to bring everyone closer to an ideal and free market.

Like to know more? Reuters report

Originally published at OneMobileRing.com