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Mobile security threats target Android banking apps

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Scammers are focusing in on applications that allow smartphone users to manage their money.

According to Kaspersky Lab, one of the largest mobile security vulnerabilities at the moment is in Android smartphone based banking apps, which have become a considerable focus of scammers.

Cyber crime is rapidly growing and these criminals are clearly aiming directly at the money.

Kaspersky Lab is an antivirus software maker from Russia. According to its co-founder and chief executive, Eugene Kaspersky, 99 percent of mobile security attacks are occurring over Android smartphones. This is a great deal to do with the fact that Apple’s controls are very strict, and they do not permit any third party applications.

What’s more, the majority of smartphone users have not taken any mobile security precautions.

mobile security problems Android appsAs these cyber attacks continue to spread like wildfire over mobile devices such as smartphones and tablets, device owners are not responding by adding the protections that would be needed to keep the attackers at bay. Kaspersky explained that “I expect something really bad to happen to change people’s minds and awareness.”

He pointed out that when it came to protecting computers, people weren’t heeding any warnings until 1998 when the Chernobyl virus rampaged through personal computers. He stated that cyber crime is headed into smartphones and tablets but the awareness is not traveling as quickly as the rate of attacks. “This trend is a very dangerous situation,” he said when he was speaking in Israel at a cyber-tech conference. It is the company’s goal to open up a new research and development lab in the country.

At the moment, Kaspersky Labs is the company behind the mobile development of one of the leading antivirus programs in the United States. Recently, it has been growing its market share against some of the largest PC and mobile security giants, such as McAfee (Intel), Symantec Corp, and Trend Micro. He explained that at the moment, it remains very difficult to determine exactly where the cyber attacks are originating in a geographical sense. That said, it has been pointed out that the typical languages spoken by cyber criminals are Chinese, Russian, Portuguese and Spanish.

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