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FBI Warns On Mobile Bank Apps

WASHINGTON: The FBI has warned that an increase in mobile banking application usage has led to a rise in exploitation.

Use of mobile banking apps in the US has increased 50 percent since the beginning of this year, according to the law enforcement agency.

The FBI is advising caution when downloading applications to mobile devices, as they might hide malicious intent. It says cyber actors are targeting new mobile banking customers with app-based banking trojans or fake banking apps.

US security research organisations found that in 2018 nearly 65,000 fake apps were detected on Apple and Android app stores, making this one of the fastest growing sectors of smartphone-based fraud.

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