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Beware of this malware if you are using bank apps

IamCheated.com Research Team | February 26, 2020  5:41:pm

Beware of this malware if you are using bank apps

These days a lot of people use mobile banking apps to carry out various transactions.  With the help of mobile banking apps, you can do various things like transfer money from one bank account to another, pay utility bills, book tickets, make online purchases and so on.

Mobile banking apps are really useful and have made our lives easy. Nowadays, almost every bank offers mobile banking apps. While the number of people using mobile banking apps is on the rise, frauds are also increasing.

See Also: What happens if your money is stolen inside the bank?

If you are one among those who use mobile banking, you have to be really careful as researchers at the cybersecurity firm Kaspersky have recognized a new version of the Ginp banking Trojan. This malware can insert fake text messages into the Inbox of a regular SMS app, with the intention of stealing personal banking information of unsuspecting users. This malware can actually gain access to all your bank details.

The malware asks people to open their bank apps with SMS and push notifications, then covers these apps and steals personal banking information. These messages are sent with the intention of fooling people. These messages look as if they are sent by reputable vendors, informing users on an undesired situation like blocked account access.

The message asks users to open the application. As soon as the application is opened, the original window is covered by the Trojan virus and asks users to input the credit card or bank account details.  Once you input this information it will be handed over to cybercriminals.

Alexander Eremin, a security expert at Kaspersky, made a statement, "Ginp is simple, but efficient - and effective. The rate at which it evolves and acquires new capabilities is concerning. While this attack has so far only been seen in Spain, based on our previous experience, this Trojan could begin to emerge in other countries as well; Android users need to be on the alert,"

As this malware can also block one-time confirmation codes from banks, they can siphon off funds without the victim noticing, until it’s too late. They can also infect your smartphones by sending a bad download link. Some malicious apps are more creative, using SMS access to distribute other things in your name, such as offensive text messages.

Some malicious apps even use SMS access to distribute things in your name, like offensive text messages.

See Also: 6 Google Apps which can empty your Bank Account

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