Security News > 2020 > June > The FBI expects a surge of mobile banking threats

The increased use of mobile banking apps due to the COVID-19 pandemic is sure to be followed by an increased prevalence of mobile banking threats: fake banking apps and banking Trojans disguised as those apps, the FBI has warned.

"Studies of US financial data indicate a 50 percent surge in mobile banking since the beginning of 2020. Additionally, studies indicate 36 percent of Americans plan to use mobile tools to conduct banking activities, and 20 percent plan to visit branch locations less often," the FBI pointed out.

Cyber criminals go where the money goes, so the agency expects them to increase their efforts to surreptitiously deliver information-stealing apps and banking Trojans to mobile users.

Banking Trojans are usually disguised as other popular apps - mobile games, utility apps, contact-tracing apps, etc.

If you want to be sure that you'll download the right mobile banking app, your best bet is to visit you bank's website and download the app from there or follow the link they provide to the official app store where it's hosted.

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