Avast: mobile banking Trojans to pose increasing threats to consumers

The digital security company asked almost 40,000 consumers in Spain and eleven other countries around the world to compare the authenticity of official and counterfeit banking application interfaces. The results have revealed that globally, 58% of respondents identified the official mobile banking app interface as fraudulent while 36% mistook the fake interface for the real one.

In Spain, the results were similar at 67% and 27% respectively, compared to 65% and 14% in the UK. The findings highlight the level of sophistication and accuracy applied by cybercriminals to create trusted copies designed to spy on users, collect their bank login details, and steal their money.

The banks targeted by cybercriminals and under the microscope in the survey include Citibank, Wells Fargo, Santander, HSBC, ING, Chase, Bank of Scotland and Sberbank. Despite having strict security measures and safeguards in place, the large customer bases of each bank make them attractive targets for cybercriminals to develop fake apps that can mimic their official apps.

The survey also found that consumers across the globe are more concerned about having money stolen from their checking accounts than losing a wallet or purse or having their social media accounts hacked and their personal messages read. Globally, 72% of respondents voiced financial loss as their primary concern. In Spain, 85% of consumers said the same and 77% in the UK.

The online survey was carried out in 12 countries, including the US, UK, France, Germany, Russia, Japan, Mexico, Argentina, Indonesia, Czech Republic, Brazil, and Spain. A total of 39,091 respondents took part.