Cashing On Digital Payments Android Banking Trojans Grew 166%

As digital payments gained traction and online and mobile banking increasingly became mainstream, miscreants like banking trojans also wished to cash in on the situation. A QuickHeal report has revealed that the banking trojans on Android platform saw an increase of 166% in Q2.

Quick Heal Security Labs, the threat research and response division of Quick Heal Technologies, the leading IT security solutions provider, detected over 2.3 million infections and 13 families of Ransomware on Windows in Q2 2017. According to the Quarterly Threat Report released by Quick Heal Technologies, malware detections saw a drop of 23%, but continued to emerge over 1700 times every minute.

With the advent of Ransomware attacks such as WannaCry and Petya (a.k.a NotPetya), Quick Heal Security Labs observed that attackers are now shifting their attention towards attacks that make them more money and in an easier way as Ransomware campaigns have higher returns compared with data stealing and other malicious campaigns.

Apart from WannaCry and Petya, the active ransomware families which emerged in the quarter include Jaff, Crisis, Cry128/Cry9 among others. Trojans continued to rise with 37% detections followed by Infectors, Worms and Adware & Potentially Unwanted Applications (PUA).

According to the report, attackers are increasingly using Remote Desktop Services (RDS) feature to enter into targeted systems by acquiring weak login credentials, password stealer software and credential access techniques. RDS is a key feature that allows Windows users to take control of a remote computer over a network connection.

On the Android platform, Quick Heal Security Labs received over 1 million malware infections – a decline of 21%, while ransomware grew 16% in comparison to the first quarter. Android Banking Trojans witnessed a massive growth of 166% as digital payments gained traction and became a popular source for banking transactions.

Sanjay Katkar, Joint Managing Director and Chief Technology Officer, Quick Heal Technology said, “Although malware detections on Windows and Android saw a decline compared to last quarter, ransomware attacks have increased – WannaCry and Petya being the notable ones. This trend proves that cyber criminals are working on attacks that require fewer resources but at the same time, give higher returns. Even novice cyber criminals who may not be able to create a ransomware are outsourcing crimes through Ransomware-as-a-Service.”

He said WannaCry couldn’t have been the biggest attack in history if people were prudent enough to keep their operating systems up-to-date with security patches released by Microsoft way before the attack happened. It’s about time people paid heed to warnings, understand the types of digital threats, be wary of sharing their personal details and treat our digital lives in the same manner as we treat our real lives – with a sense of security.

Also Read

Leave a Reply

%d bloggers like this: