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$1 Million Siphoned Off Android Users in 2011 Claims Lookout

Security app maker Lookout Mobile Security announced that the year 2011 has witnessed malicious elements in the cyberspace stealing $1 million from Android users from across the globe.

The company went on to reveal that annual possibility of an Android user coming across malicious software has gone up to 4 per cent.

Security experts at Lookout also predicted that there was a 36 per cent possibility of Android users clicking on a potentially malicious link in the year 2011.

"2011 was a watershed year in terms of the types threats we saw emerging," said Lookout co-founder and Chief Technology Officer Kevin Mahaffey in a statement, reports Fox Business.

"Threats had greater sophistication and were deployed using more innovative and efficient distribution methods. In 2012, we expect to see the mobile malware business turn profitable," he added.

Hinting towards how the "mobile malware business" is rapidly expanding, Mahaffey mentioned that in comparison to the 15 long years taken by the so called malware-industry targeting PCs to reach where it stands today, it took its counterpart aimed at mobile platforms only a couple of years to reach that same status.