IBM X-Force reported that mobile malware developers uploaded at least 10 malicious downloader apps to the Google Play Store as the first step in a process that fetches BankBot Anubis.
The mobile revolution has made it simpler and faster for banking customers to conduct financial transactions, but it has also expanded the attack surface for fraudsters aiming to steal sensitive data.
Financial companies that provide mobile services need advanced malware detection tools and threat intelligence to protect customers from financial fraud.
With so many ways to connect with banks today, financial organizations need omnichannel fraud detection tools to distinguish customers from fraudsters.
Mobile banking is becoming more prevalent, so the onus is on banks and financial institutions to secure all user sessions and endpoints to prevent fraud.