Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Mobile banking goldmine for cybercriminals


Mobile banking goldmine for cybercriminals

AUCKLAND and AMSTERDAM – 9 November 2012 – Consumers who use their smartphones to access online banking services are among the latest targets for cybercriminals, according to the AVG Technologies Q3 Community Powered Threat Report released today.

AVG predicted growing sophistication in mobile malware earlier in 2012 and the Q3 threat report affirms that suspicion, with mobile cybercrime being the biggest trend of the third quarter. Malware known as Zitmo (or Zeus in the Mobile), a new version of well know malware Zeus-on-PC has recently been spotted, targeting the 1 billion smart phone users globally. AVG has been tracking its evolution and has identified how hackers are exploiting the growth in mobile banking by releasing Zitmo for mobile platforms, notably Android, in very controlled attacks.

A 2012 PriceWaterhouseCoopers’ report <http://press.pwc.com/GLOBAL/digital-banking-to-be-the-norm-by-2015-/s/9d93ee5e-8fce-492a-82a7-368f0d23311c> projected that digital banking would become the norm globally by 2015. Zitmo exploits the two-factor authentication process many banks have put in place to protect their customers including the traditional user/password authentication and a Transaction Authentication Number (TAN), which is sent as a text message to the user’s mobile device. Zitmo intercepts this communication and stores the details to gain access to user bank accounts.

“Zitmo is not new malware as such; but the new ways in which we are seeing cybercriminals use it underlines this worrying trend of socially engineering security attacks to match evolving consumer habits,” said Michael McKinnon, Security Advisor at AVG Technologies AU. “We always recommend consumers exercise care when sourcing and downloading apps onto their smartphones, as unofficial third party sites are usually the best places for cybercriminals to seed malware-ridden versions of popular apps. People get caught out because they cannot tell if they have the malware on their phone, so it’s best to install mobile security software and keep it updated in order to have peace of mind when using mobile banking and social networking services.”

Consumers using social networks are increasingly at risk as cybercriminals can now buy ready-made malware on subscription. Social networkers were hit this quarter by an explosion of attacks using the notorious Blackhole Exploit kit, the first ‘commercial’ malware. The attack left users unable to log-on to their accounts or access any games or applications as cybercriminals coordinated the attacks from multiple external advertising servers, which generated an exceptional increase from 250,000 attacks to over 1.6m recorded events within an eight hour period.

To download the full Q3 2012 Community Powered Threat Report, please visit: http://www.avg.co.nz/files/media/avg_threat_report_2012-q3.pdf <http://www.avg.co.nz/files/media/avg_threat_report_2012-q3.pdf>

Keep up to date with our regular threat bulletins on the AVG News & Threats <http://blogs.avg.com/news-threats/> blog.

About the report

The AVG Community Protection Network is an online neighbourhood watch, where community members work to protect each other. Information about the latest threats is collected from customers who participate in the product improvement program and shared with the community to make sure everyone receives the best possible protection.

The AVG Community Powered Threat Report is based on the Community Protection Network traffic and data collected from participating AVG users over a three-month period, followed by analysis by AVG. It provides an overview of web, mobile devices, spam risks and threats. All statistics referenced are obtained from the AVG Community Protection Network.

AVG has focused on building communities that help millions of online participants support each other on computer security issues and actively contribute to AVG’s research efforts.
###
About AVG — www.avg.co.nz <http://www.avg.co.nz/?utm_source=avgt>
AVG Technologies’ mission is to simplify, optimise and secure the Internet experience, providing peace of mind to a connected world. AVG’s powerful yet easy-to-use software and online services put users in control of their Internet experience. By choosing AVG’s software and services, users become part of a trusted global community that benefits from inherent network effects, mutual protection and support. AVG has grown its user base to 128 million active users as of June 30, 2012 and offers a product portfolio that targets the consumer and small business markets and includes Internet security, PC performance optimisation, online backup, mobile security and identity protection.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Mt Eden Prison: Serco Inquiry Extended

A two month delay to the Government investigation into prison fight clubs shows the extent of problems within the Serco circus, says Labour’s Corrections spokesperson Kelvin Davis. More>>

ALSO:

Health And Safety: Late Addition Of National Security Provisions A Concern

The New Zealand Law Society has expressed its significant concerns at the last-minute addition to the Health and Safety Reform Bill of provisions for a closed material procedure for court proceedings where national security is involved. More>>

ALSO:

Rugby And Beer: World Cup Alcohol Bill Passes

ACT MP David Seymour’s Sale and Supply of Alcohol (Extended licensing hours during Rugby World Cup) Bill completed its third reading by 99 to 21... More>>

ALSO:

Gordon Campbell: On The Flag Campaign

So far, the public has treated the government’s flag campaign with something between disinterest and disdain. Most New Zealanders have instinctively seen through the marketing hype involved. More>>

Change For 2017: Local Govt To Decide On Easter Sunday Trading

The Government is to enable local communities, through councils, to decide whether retailers can open on Easter Sunday, Workplace Relations and Safety Minister Michael Woodhouse announced. More>>

ALSO:

(And Targets Worse Than Australia's): Foresters Abandoning Emissions Trading Scheme

The Government’s gutting of the Emissions Trading Scheme has caused foresters to leave and emissions to rise, says Labour’s Climate Change spokesperson Megan Woods. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news