New Android Malware Poses Scary Threat

malwareThere are so many viruses and malware floating around out there, it’s impossible to keep them all straight. But if you’re an Android user, you should probably be aware of the new Trojan horse that will not only steal your payment data, but also hinder you from alerting your bank.

First identified by security vendor Symantec, the new version of the Android.Fakebank.B malware has a “call-barring” function. This means a hacker can delay the user from canceling any cards that have been compromised.

Fakebank has been around since 2013. It operates by pretending to be an Android app, all the while stealing the user’s money. It first scans the phone for specific banking apps, and upon finding them prompts the user to delete and replace them with malicious versions. Fakebank.B, the newer version, will also monitor phone calls and, if it believes a bank is being dialed, it will cancel the call.

Right now, Fakebank.B has only surfaced in Russia and South Korea. However, Symantec is warning users everywhere to refrain from downloading apps from untrustworthy sources, such as third-party app stores.

*Source: Network World