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New Android Banking Trojan Strikes; Tries to Steal Banking Information from Korean Victims

New Android Banking Trojan Strikes; Tries to Steal Banking Information from Korean Victims

Technology

New Android Banking Trojan Strikes; Tries to Steal Banking Information from Korean Victims

New Android Banking Trojan StrikesA new Android Trojan is on the loose. Android users should beware because it could be a serious one. The newly discovered malware can steal banking data without the victims knowing it. Apparently, the new virus is currently focused on targeting potential victims in South Korea.

The malware was discovered by security vendor MalwareBytes. It warned Android users that the new banking Trojan is disguised as a typical Google Play Store app. Once, the supposed app is downloaded, the malware will work to replace all legitimate baking apps within the system. It will also do its work to capture important and sensitive user data.

This makes the new Trojan malware more dangerous. It can run as a service within the background to monitor events in the system. This will enable capturing of incoming SMS messages, monitoring other installed apps, and communicating with a remote server.

As of press time, it is still not clear how many unsuspecting users especially in South Korea have already been victimized by the virus. Moreover, it would be impossible to make any estimate how much could have possibly been lost from the victims.

Expanding reach

The new Android banking Trojan is the latest variant of so-called banking Trojans that target Android users. Malware developers logically want to target Android users because the mobile operating system is presently the most widely used across the globe. Some experts also assert that Android is more susceptible to attacks compared to its rivals like iOS.

But this is not the first Android banking Trojan on the loose. Other banking Trojans have previously targeted Android users in Europe and in Brazil, especially those who do online banking transactions using their mobile devices.

MalwareBytes is also concerned that malware authors seem to be expanding into many other markets these days. This again can be attributed to the popularity of Android as an operating system.

Protection from malware

According to investigations, the new Android banking Trojan contains similar Package Name as the legitimate and real Google Play store. This makes it deceiving. Gullible Android users might have no suspicion that they are downloading a fake app.

So how can other Android users protect their systems against the malware? MalwareBytes has just one practical and effective advice: don’t download apps from unsecured sources. Google Play store should come preloaded in Android devices and updates are found in the app store alone.

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About Jasmin Harper

Jasmin Harper covers tech and gaming news.

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