Combat Mobile Malware: Need More Institutional Help?

Tuesday, April 30th, 2019

The number of people using mobile financial services and payments is growing all over the world. This makes mobile channels even more appealing to criminals. They’re investing more time and effort in making their “skills” more advanced so to defraud mobile users in more sophisticated ways. What are you doing to combat mobile malware? Who can help you protect your online payment transactions in the best possible way? Just read this article and you’ll know.

How to Combat Mobile Malware
Mobile malware is a growing problem for businesses around the globe. Employees use their mobile devices to connect with both their family and friends, as well as with their coworkers. When companies move to the cloud, their employees start checking email, downloading documents, and sharing information that may have sensitive information. That’s where protection becomes of special importance for business owners.

According to McAfee research, every mobile-enabled device can be a target for this or that type of malicious exploit. In 2018, McAfee reported that TimpDoor, mobile malware, turned Android devices into hidden proxies. However, mobile isn’t the only channel under attack: you should protect your business beyond mobile devices.

For this, consider turning to a reputable payment expert like Best Payment Providers in the UK that can help you get the best payment processing solutions in the country. Best Payment Providers is dedicated to finding the cheapest rates and the most advanced payment services for you.

Did you know that Oracle cybersecurity researchers have revealed malware, DrainerBot, which is targeting Android smartphones and increasing their data bills? This points to a big problem that’s turning into a larger threat both for individuals and business across the world.

More Institutional Help for Fighting Mobile Malware
You should remember the cryptomining explosion in the last quarter of 2017, shouldn’t you? 2018 started with threat actors working on making the scope of their cryptomining tactics lareger. Later, by Q2, cryptomining lost its strength. However, new threats came into play, such as Emotet and TrickBot.

According to Kaspersky Lab, mobile malware attacks in 2018 were almost 2 times as many (116.5 million) versus 2017 (66.4 million). 2018 was also a year when mobile banking Trojans hit a record. The company reports that unprecedented levels of mobile banking Trojan attacks were registered in the 2nd half of 2018.

Namely, the number of these attacks were about 9 million more as compared to the 2nd half of 2017. In fact, Kaspersky Lab’s quarterly reports show that such outcome isn’t a surprise at all. In reality, mobile banking Trojan attacks began to grow back in May 2018 and reached their peak in September.

At the end of 2018, researchers found Android malware that was functioning as a battery optimization app. However, its true role was to target the PayPal app and use accessibility services. With the purpose of sending money to an account that the attacker was keeping under control.

To sum up, online fraudsters are becoming much more sophisticated and using “smarter” tools and tactics to attack both individuals and business. So, work with a true payment specialist to prevent payment fraud before it occurs.