5 Top Malware Threats to Online and Mobile Banking
Hundreds of millions of dollars have been stolen by cyber-criminals from bank and credit union accounts. That is the reality and what it means to credit union executives is that the need for vigilance around online and mobile banking is severe.
But then there are the flat-out empty scares that so often percolate in this field. Last week for instance security experts were aflutter over a threat named Flame which, in initial reports, was said to be Stuxnet doubled down. That would be very, very bad indeed because Stuxnet may have the capabilities to cripple nation states.
No 2 Mobile Malware
Mainly mobile malware remains a trickle, but as digital banking goes through a transformation that likely will see huge spikes in the number of mobile banking users, experts increasingly eyeball mobile malware as a new frontier.
No 3 Counterfeit Banking Apps
So far, say the experts, there have been no successful counterfeits of U.S. bank or credit union apps for Android devices, and there is lesser probability that a counterfeit could make it through the more thorough screening required to upload an app into the Apple App Store.
No 4. Phishing Keeps on Stealing
User innocence – maybe ignorance and gullibility – are what have always fueled phishing, which continues to be one of the most virulent online banking threats, per the recent 2011 Phishing Activity Trends Report out of the Anti-Phishing Working Group.
No. 5 Zeus
The one certainty around online-mobile banking security is that the threats will keep coming. And they will get more clever.