A new report has revealed that the number of apps containing malware reached 718,000 just last month. This is an increase of 350,000 up from the end of last year.
Some of the most common malicious apps are attempting to sign users up to pricey premium services which charge outrageous amounts for simply sending and receiving text messages for example.
According to Jonathan Oliver, Trend Micro’s software architecture director for Australia and New Zealand, there’s been a recent increase in the number of ‘genuine malware’ out there.
This type of malware knows how to take advantage of the vulnerabilities of the Android and how to access and steal sensitive information.
FAKEBANK is one example. It imitates genuine banking apps and steals usernames and passwords.
Cybercriminals make these apps by taking genuine apps and then installing the malicious software in them. Then they offer them for sale on the app store either for free or at a large discount.
According to Oliver, Android phones are more susceptible to attacks over iPhones because the Android app store is more open.
Oliver continued on to say that Australia is still a major target for cybercriminals as more and more people are using their phones for mobile banking purposes.