There has always been the problem of fraud and duplicity around the world of banking. Scams have come up with new and cunning ideas to customers worldwide.
This is becoming a growing problem because as soon as one way is curbed the rip-offs invent a new one. There is one new malware that has the attention of all the banks. This is the latest Android malware for banking apps.
More About This Android Malware For Banking Apps:-
This new banking Malware can record the screen infected by it and also add new tricks that keep the malware out of the reach of the victims.
A group of cybercriminals introduced this malware. This group also dropped another malware that possibly stole fund from millions of Android phone users across the globe.
But they change their tricks in a short period. Their new technique was to alter the code and re-purpose the infected malware into another banking Trojan. They also cleared the protections in the Google Play Store and spread their payload to fraud people around the globe.
Some researchers that work day and night to stop this kind of cons have discovered that the group of cybercriminals behind this Banking Trojan has been trying to improve this malware so that it becomes more and more dependable and can steal even more.
How Does It Work?
It starts from the very initial point of downloading one such malevolent apps that contains this malware. Once they are installed on a device, it continuously asks for permission from the user to get avail the accessibility to specific services and functions to strengthen its base in the machine. This is a very usual trick that lets the Android malware that exploits the features in a device that makes it more user-friendly.
After the permission is granted, the modules of the malware allow to read, receive, and send messages and monitor over the activities being carried on over the phone and also make calls from the infected device. Most importantly, it allows the group controlling the malware to corrupt the banking applications and lock the screen of the invention, making it completely uncontrollable by the user.
The newest version of this new Android malware has a new screencast module. This allows the malware to be able to record the screen of the infected device. This also means that the attackers can monitor as well as store the activities of the user. This has to be one of the brilliant and malicious ways to steal data such as passwords, usernames, and other information that are supposed to be confidential and have an end to end encryption.
In addition to the ability to record screen, the new version of this malware has a new technique called obfuscation. The researchers describe this new technique as ‘randomly generated garbage.’
The research and study behind this new malware seem to be the right feature will be lost in the code.
This malware is still active, and the group behind the creation of this malware is always making new changes and advancements to it. Researchers that are engaged to uncover this malware have enlisted names of the banks that are targeted and infected by this malware. Researchers worldwide are trying to resolve this problem to make mobile banking more secure.