Are banking apps safe to use?

Event: banking applications at risk

Recently, computer security researchers got their hands-on Android mobile malware. This malware, called EvenBot, specifically targets mobile finance applications to bypass user authentication. At the level of banking services on smartphones, EvenBot attacks applications and authorization access in order to embezzle money. This is a Trojan horse and also an info stealer that should not be taken lightly as this new malware is only in its infancy in the digital technology world.

Malware that looks like a popular app

event will be released around March 2020 and is brand new software that is taking its first steps in the world of mobile applications. However, according to research by Cybereason Nocturnus, this type of malware is quite dangerous according to studies of its behavior. In fact, EvenBot has infiltrated the accessibility of Android phones, especially those that involve mobile financial activity. According to the sources, this software was created to look like the usual applications like Microsoft Word, Flash Player, or Adobe's on regular websites. Fortunately, the event is still in the testing phase and its development has not yet reached a certain level to be listed in the Google Play Store App Store.


Despite its young age, the event should not be viewed as such as this malware can grow into major malware on Android devices. According to the sources, this type of info stealer is constantly improving to act discreetly to the functions of the Android system and banking applications. Thus, it can perfectly read every person's SMS in order to bypass authentication. To date, the event is known for its ability to use up to 200 finance apps of all kinds on Android devices, including mobile banking, money transfer apps, and mobile wallets. The countries affected include the USA, Italy, the United Kingdom, Spain, Switzerland, France, and Germany.


Event and how it works: how do you protect yourself?

As mentioned earlier, this malware appears like any other popular Android apps. All kinds of permissions to read and receive SMS are requested on a mobile device. At the same time, this software is embedded by the data in the background as well as ten authorizations that are likely to bypass data security.


Once inside, this Trojan horse starts and targets around 200 banking, finance, and virtual currency applications. In any case, EvenBot poses a threat that can cause great damage later. Because of this, from now on, you need to protect yourself by updating Android features and installing an effective antivirus program. We strongly advise against downloading applications outside of the Play Store and without activating the Play Protect function.

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