17 October 2017

Korean banks under siege from Android malware

27 June 2014  |  9240 views  |  0 web spider

Banking Trojans masquerading as Android mobile apps are spreading like wildfire through the smartphones of Korean users, with up to 100,000 devices so far infected.

The Security Research Lab of Cheetah Mobile says the Trojan pretends to be a popular game or tool on one of the many third party Android markets in Korea with the intention of tricking the user into downloading it.

After installation, the virus searches for banking apps on the phone and alerts the user to a bogus update. Once the update is approved, the official app gets deleted and is replaced with a convincing copy. It then asks for the password for the user's security certificate, which is required by the South Korean government in order to access official online services in the country.

The fake app then proceeds to ask for the user's personal banking data - including account numbers, passwords and card security data - before closing with the message "No Wi-Fi connection. Use 3G or try to connect to the W-Fi again." The malware then shuts down the application and proceeds to remove all traces of itself from the device.

More than 2000 variations of the malware have been detected by CM Security researchers, with more than 3000 Korean smartphones infected in the last week alone.
KeywordsCARD FRAUD

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Ransomware moves to the mobile - and it's after your banking data

Ransomware moves to the mobile - and it's after your banking data

17 June 2014  |  6011 views  |  0 comments | 9 tweets | 5 linkedin
Cat pics prove hazardous to online bank accounts

Cat pics prove hazardous to online bank accounts

04 March 2014  |  7827 views  |  3 comments | 15 tweets | 8 linkedin
Researchers find more than 100 malware families targeting bitcoin

Researchers find more than 100 malware families targeting bitcoin

27 February 2014  |  6902 views  |  1 comments | 8 tweets | 3 linkedin
Cyber-crime cops bust malware ring behind £1 million bank thefts

Cyber-crime cops bust malware ring behind £1 million bank thefts

11 December 2013  |  5590 views  |  0 comments | 8 tweets | 5 linkedin
Mobile payments expansion spawning criminal undergound

Mobile payments expansion spawning criminal undergound

16 May 2013  |  9656 views  |  2 comments | 9 tweets | 3 linkedin
Banks must wake up to mobile virus threat - Ovum

Banks must wake up to mobile virus threat - Ovum

06 July 2010  |  13773 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.capgemini.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15019 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8259 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7714 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7080 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6269 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job