According to Nokia’s “ 2021 Threat Intelligence Report ,” the number of new banking trojans increased significantly in the first half of 2021 (up 80% year-on-year). These trojans, which are particularly active in Latin America and Europe , primarily target smartphones to steal personal banking credentials, SMS messages containing one-time passwords, and credit card information.
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The report found that devices Android were more frequently targeted than iOS, as Apple has stricter rules regarding downloading apps to iPhones. In 2020, 87% of Americans used a mobile device to check their bank balance, and in 2021 that percentage was even higher (most of them were using Android devices). Cybercriminals were quick to capitalize on the new trend and create more and more mobile banking trojans to infect as many users as possible.
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To avoid banking trojans and other threats, users are encouraged to use unique and strong passwords, as well as implement multi-factor authentication. Additionally, experts recommend that users use private, secure Wi-Fi networks if they want to conduct any online banking transactions, so that it is more difficult for cybercriminals to access personal information.
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Online threats are constantly evolving to respond to new situations that arise. Cybercriminals are constantly monitoring developments in cybersecurity and the broader environment and looking for opportunities to act. For example, the pandemic has resulted in an increase in online banking transactions. This explains the emergence of new banking trojans in recent months.
Nokia's report is based on data collected from network traffic on more than 200 million devices, where Nokia's NetGuard Endpoint Security product is deployed
You can read Nokia's full report here.
Source: VentureBeat
