Beware of the new malware in town! Your banking apps, credit card details, Netflix can be at risk

By: |
Published: July 20, 2020 2:15 PM

Even though there is no clarity yet on how to handle this malware, experts say people should stay away from installing apps from an unknown source or grant permissions to an odd app.

blackrock, credit card, credit card fraud, how are banks coping, banks and fintech, credit score, how to build a strong credit score, timely repayment of credit card bills, credit utilization ratio , credit report, BlackRock is one of the most dangerous Android malwares we’ve seen to date.This malware also poses as fake Google updates, which many people can not differentiate.

It has been a while since the digital wave started, and it was increasing fast. However, the COVID-19 pandemic gave it an additional push. After the pandemic, online transactions and payments have increased considerably, but so have frauds and cyber attacks.

ThreatFabric, a Netherland-based cybersecurity firm, has notified a recently-detected new malware called BlackRock. With this malware, hackers and fraudsters have been targeting over 337 Android apps to steal card details. The report says there has been a steady increase in the number of new banking Trojans since 2014, however, 2020 shows an interesting increase again after a quiet calm 2019.

How does it work?

The malware uses overlays or fake windows with keylogger functionality on top of a legitimate app. It prompts the users to enter their card details to get access to the app. As soon as the users enter their card details, the hackers capture them.

Additionally, if such an app gets installed on your smartphones, the Trojan asks the user for the phone’s Accessibility feature, through which the malware gets access to other Android permissions. According to research and reports, the malware can intercept SMS messages, spam contacts with predefined SMS, sabotages mobile antivirus apps, performing SMS floods, shows custom push notifications, starts specific apps, etc. This malware also poses as fake Google updates, which many people can not differentiate.

What is at risk?

According to the ThreatFabric report, Gmail, Yahoo Mail, Microsoft Outlook, PayPal mobile cash, Amazon seller, Uber, Netflix, Amazon shopping, Binance, are targeted by this malware, along with banking apps such as iMobile by ICICI, YONO Lite SBI, and IDBI Bank Go Mobile+, among others.

This malware is also said to be able to steal data, passwords, and credit or debit card information from various apps.

Even though there is no clarity yet on how to handle this malware, experts say people should stay away from installing apps from an unknown source or grant permissions to an odd app.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Made tax-saving investment during extended period? Here is how to show it in ITR
2Debt funds shine in July, record cumulative net inflows of Rs 91,392 cr
37 reasons why your health insurance claim may get rejected