Mobile banking malware sees huge rise

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New research has detected a 50 per cent increase in banking malware in the first half of this year, compared to the same period last year

According to security firm Check Point, this type of malware can easily spread to a large number of devices, and usually looks for payment data, credentials, as well as pure cash.

The report states that development kits for mobile malware code can easily be found on underground forums for purchase, which is why we’re witnessing a large spike in popularity.

“In this way, the builders of mobile bankers, such as Asacub and Anubis, can allow the creation of new versions of these malware, ready for massive distribution,” the report said.

A total of three types of malware were perceived as most popular – Ramnit (28 per cent), Trickbot (21 per cent) and Ursnif (10 per cent).

The report also says that mobile malware is getting harder to identify and counter, mostly due to the fact that malicious actors are using the same techniques that were proven effective on computers.

“This includes the use of evasion techniques such as delayed execution to avoid sandboxes, using transparent icons with empty application labels, encrypting the malicious payload, and turning off anti-malware protections.”

Malware variants that were most frequently detected by antivirus solutions are Android-bound Triada (30 per cent) Lotoor (11 per cent) and Hidad (seven per cent).