Security News > 2024 > January > 29 malware families target 1,800 banking apps worldwide

Mobile banking is outpacing online banking across all age groups due to its convenience and our desire to have those apps at our fingertips, according to Zimperium.

The research uncovered that 29 malware families targeted 1,800 banking applications across 61 countries last year.

In comparison, the 2022 report uncovered 10 prolific malware families targeting 600 banking apps.

Traditional banking applications remain the prime target, with a staggering 1,103 compromised apps -accounting for 61% of the 1800 targets-while the emerging FinTech and Trading apps make up the remaining 39%. Hook, Godfather, and Teabot are the top banking malware families, measured by the number of banks targeted.

"Cybercriminals continue to target traditional banking apps and FinTech & Trading apps because of the widespread use of dated app security techniques that are falling short."

From growing fraud losses, increased operational costs, and decreased consumer trust and brand impact, it's crystal clear that banking malware is evolving to make mobile banking fraud even more pervasive.

News URL

https://www.helpnetsecurity.com/2024/01/03/banking-trojans-mobile-devices/