"There’s no doubting it. Mobile threats around the globe are evolving. Korea was recently targeted by an Android trojan masquerading as the Google Play app that overwrites legitimate banking apps with malicious fakes poised to steal the user’s banking credentials.
Over in Spain, an Android trojan has stepped in, trying to pass itself off as an official mobile app from the Spanish bank, Banca March." Continue Reading
Showing posts with label Trojan. Show all posts
Showing posts with label Trojan. Show all posts
Tuesday, December 3, 2013
Wednesday, September 11, 2013
Mobile Banking Security - Sept 11
Jeff Salway: Banking bandwagon not such a safe ride
"I WAS recently accused by a friend – a self-confessed geek – of being scared of new technology; I prefer to believe I’m just too cynical to jump on the latest high-tech bandwagon. That includes mobile banking, which is one bandwagon the banks would very much like us all to leap on to, and in this case my cynicism may be more than justified. Mobile banking refers to the use of mobile phones and other handheld devices, such as tablets, to make payments, transfer money, check statements and so on. The UK is lagging behind in this area, but our banks are eager to catch up and are ploughing millions into mobile banking development."
Banker beware: SIM swapping con targets mobile accounts
"It's amazing in its own way — despite constant warnings from their financial institutions to never, ever provide sensitive information by phone or email, customers continue to do just that. That dynamic, whether caused by gullibility or laziness, has only helped scammers, who've been perfecting their craft since time immemorial. One of the latest cons is SIM swapping, which is the second phase of a phishing scam. Though not as profitable as large-scale hacking and skimming, it appeals to criminal gangs looking for a low-cost, low-risk, high-reward, EMV-circumventing racket."
USERNAME AND PASSWORD AUTHENTICATION BORDERS ON NEGLIGENCE IN MOBILE BANKING
"Earlier this week the Financial Conduct Authority announced that it will be publishing a full report in to mobile banking early next year, by revealing its initial findings and the potential risks to consumers concerning fraud, cybercrime and user error. In an article published by the BBC, the Director of Supervision at the FCA, Clive Adamson, states that: 'With the market growing, now is the right time for us to take stock and, as part of the FCA’s forward looking approach, to ensure that consumers are appropriately protected.'”
New 'Hesperbot' bank Trojan targets mobile authentication systems
"Security firm ESET is warning of an ambitious new banking Trojan designed to beat the mobile multi-factor authentication systems rolled out to defeat an older generation of malware. Named Spy.Hesperbot after its discovery in Mid-August, the Trojan comes with the usual tricks such as keylogging, video capture and html injection but adds cleverness in the form of a remote control VNC server and a mobile app for Symbian, Blackberry or Android smartphones."
UK mobile payments held back by security and complexity
"With only one in five UK consumers using their mobile to make payments, new research suggests that the technology is being held back by consumer fears over security, lengthy sign-up processes and problems making payments outside of individual schemes. Mobile payments specialist firm Zapp carried out a survey of 2,000 UK consumers, and found that 17% of them had made a mobile payment. Of these, some 60% were limited to simple bank transfers between accounts, rather than paying for goods and services. Of those making payments, one in five said there are not enough people and places to make payments and 18% said it was difficult to pay people who don’t use the same mobile payment system."
"I WAS recently accused by a friend – a self-confessed geek – of being scared of new technology; I prefer to believe I’m just too cynical to jump on the latest high-tech bandwagon. That includes mobile banking, which is one bandwagon the banks would very much like us all to leap on to, and in this case my cynicism may be more than justified. Mobile banking refers to the use of mobile phones and other handheld devices, such as tablets, to make payments, transfer money, check statements and so on. The UK is lagging behind in this area, but our banks are eager to catch up and are ploughing millions into mobile banking development."
Banker beware: SIM swapping con targets mobile accounts
"It's amazing in its own way — despite constant warnings from their financial institutions to never, ever provide sensitive information by phone or email, customers continue to do just that. That dynamic, whether caused by gullibility or laziness, has only helped scammers, who've been perfecting their craft since time immemorial. One of the latest cons is SIM swapping, which is the second phase of a phishing scam. Though not as profitable as large-scale hacking and skimming, it appeals to criminal gangs looking for a low-cost, low-risk, high-reward, EMV-circumventing racket."
USERNAME AND PASSWORD AUTHENTICATION BORDERS ON NEGLIGENCE IN MOBILE BANKING
"Earlier this week the Financial Conduct Authority announced that it will be publishing a full report in to mobile banking early next year, by revealing its initial findings and the potential risks to consumers concerning fraud, cybercrime and user error. In an article published by the BBC, the Director of Supervision at the FCA, Clive Adamson, states that: 'With the market growing, now is the right time for us to take stock and, as part of the FCA’s forward looking approach, to ensure that consumers are appropriately protected.'”
New 'Hesperbot' bank Trojan targets mobile authentication systems
"Security firm ESET is warning of an ambitious new banking Trojan designed to beat the mobile multi-factor authentication systems rolled out to defeat an older generation of malware. Named Spy.Hesperbot after its discovery in Mid-August, the Trojan comes with the usual tricks such as keylogging, video capture and html injection but adds cleverness in the form of a remote control VNC server and a mobile app for Symbian, Blackberry or Android smartphones."
UK mobile payments held back by security and complexity
"With only one in five UK consumers using their mobile to make payments, new research suggests that the technology is being held back by consumer fears over security, lengthy sign-up processes and problems making payments outside of individual schemes. Mobile payments specialist firm Zapp carried out a survey of 2,000 UK consumers, and found that 17% of them had made a mobile payment. Of these, some 60% were limited to simple bank transfers between accounts, rather than paying for goods and services. Of those making payments, one in five said there are not enough people and places to make payments and 18% said it was difficult to pay people who don’t use the same mobile payment system."
Monday, September 2, 2013
Mobile Banking Security - Sept 2
Mobile banking risks revealed by FCA
"Fraud and mistakes on fiddly keypads could create problems for people who use banking services on their mobile phones, a regulator has said. Consumers transferring money should be careful to enter correct details on the smaller keypads, the Financial Conduct Authority (FCA) said. They might also be using mobile banking late at night, which could affect their concentration when moving funds. The FCA is studying the potential risks to customers of mobile banking."
Cyber criminals crack two-factor bank authentications
"Users who swear by online banking are in for a shock as the McAfee Threats Report: Second Quarter 2013 has divulged details about a banking malware that helps cyber criminals steal SMSes to get access to people’s accounts. The research also brings to light some entertainment and dating applications which are actually meant to carry out data theft. And a significant number of ransomware samples have also been found. As many as 3,20,000 of these were unearthed in the first two quarters of 2013."
Mobile Threat Monday: Nasty Adware And A Master Key Mystery
"This week, Mobile Threat Monday looks at two of the biggest concerns for Android right now: adware and the so-called Android master key. Both have grabbed lots of headlines on SecurityWatch and with good reason. Careful readers will recall that the Android master key is an exploit that allows a malware creator to spoof the digital certificate of a different Android app. The upshot is that an attacker could create a malicious Trojan app that mimics a legitimate app, and pass off the malware as the genuine article."
Warning on mobile banking fraud risk
"Mobile banking users have been urged to take greater care when downloading applications that allow them to access their accounts on the go. The City watchdog has launched a review into the fraud risks associated with mobile banking and payments as take-up of the technology grows."
McAfee has released data that shows that these are the largest concerns in the current wireless environment.
"According to a report that was just released by McAfee Labs, “backdoor” Trojans and banking malware, which steal information from a device without the awareness of the victim, were the greatest threats to smartphone and tablet users during the second quarter of 2013."
Mobile Trojan Defeats Dual Authentication
"A new cross-device mobile Trojan that already has targeted online-banking customers has been linked to the same group that waged the successful High Roller attacks last summer. So far, customers of several top-tier institutions in Northern Europe and a handful in the U.S. have been victimized. The attackers behind the malware are believed to be Russian."
"Fraud and mistakes on fiddly keypads could create problems for people who use banking services on their mobile phones, a regulator has said. Consumers transferring money should be careful to enter correct details on the smaller keypads, the Financial Conduct Authority (FCA) said. They might also be using mobile banking late at night, which could affect their concentration when moving funds. The FCA is studying the potential risks to customers of mobile banking."
Cyber criminals crack two-factor bank authentications
"Users who swear by online banking are in for a shock as the McAfee Threats Report: Second Quarter 2013 has divulged details about a banking malware that helps cyber criminals steal SMSes to get access to people’s accounts. The research also brings to light some entertainment and dating applications which are actually meant to carry out data theft. And a significant number of ransomware samples have also been found. As many as 3,20,000 of these were unearthed in the first two quarters of 2013."
Mobile Threat Monday: Nasty Adware And A Master Key Mystery
"This week, Mobile Threat Monday looks at two of the biggest concerns for Android right now: adware and the so-called Android master key. Both have grabbed lots of headlines on SecurityWatch and with good reason. Careful readers will recall that the Android master key is an exploit that allows a malware creator to spoof the digital certificate of a different Android app. The upshot is that an attacker could create a malicious Trojan app that mimics a legitimate app, and pass off the malware as the genuine article."
Warning on mobile banking fraud risk
"Mobile banking users have been urged to take greater care when downloading applications that allow them to access their accounts on the go. The City watchdog has launched a review into the fraud risks associated with mobile banking and payments as take-up of the technology grows."
McAfee has released data that shows that these are the largest concerns in the current wireless environment.
"According to a report that was just released by McAfee Labs, “backdoor” Trojans and banking malware, which steal information from a device without the awareness of the victim, were the greatest threats to smartphone and tablet users during the second quarter of 2013."
Mobile Trojan Defeats Dual Authentication
"A new cross-device mobile Trojan that already has targeted online-banking customers has been linked to the same group that waged the successful High Roller attacks last summer. So far, customers of several top-tier institutions in Northern Europe and a handful in the U.S. have been victimized. The attackers behind the malware are believed to be Russian."
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