Millions of Samsung and Android users at risk of banking trojans

Customers are not advised to follow in the footsteps of Samsung Galaxy and Android consumers, who have been making costly errors. Users of Android and Samsung devices in in the USA, the Uk, Europe, Brazil, and Thailand, are the targets of cybercriminals, scammers, and fraudsters. 29 malware families that have attacked 1,800 financial apps in 61 countries have been found, as per the report by the Zimperium security team. With 109 constitutions affected by banking malware in the USA in 2023, it was the worst-performing region.

Next comes Italy with 44 affected constitutions, which is followed by the UK with 48 affected constitutions by banking malware. For thorough threat monitoring and modeling, Zimperium is also advising customers to use runtime visibility. Heads of mobile application security need to make sure that all attack vectors—device, network, application, and phishing—are visible during runtime. As per the security experts, this real-time data enables proactive risk, threat, and attack assessment and reporting.

Further, Zimperium says, Implement on-device defense for instantaneous threat mitigation, where leaders in mobile application security should give top priority to putting in place on-device defenses that let apps act quickly when a threat is detected. They continue, alerting clients to the fact that this functionality ought to be independent of network access or back-end server interactions.

Zimperium, the first mobile-first security platform for mobile devices and mobile apps, issued the yearly Mobile Banking Heists Report today, showcasing the ongoing development and effectiveness of mobile banking trojans worldwide. With Zimperium, businesses can fully embrace mobile-powered operations by implementing a mobile-first security strategy. Zimperium’s Mobile-First Protection PlatformTM, designed to meet the needs of mobile businesses, offers unparalleled protection for both devices and apps.

Nico Chiaraviglio, Chief Scientist of Zimperium, said, “Mobile banking security is currently in a high-stakes scenario, with numerous threat actors posing substantial risks. This report shows the sophistication, adaptability, and scalability of banking trojans and their widespread impact on mobile applications across the globe.”

“We are seeing that they are finding ways to bypass traditional defenses, which is why it is critical that banking and financial organizations employ comprehensive, real-time, on-device mobile security to combat these intelligent adversaries.”