Tech Desk 
Mar 07, 2025
Cybercriminals are using malware attacks to steal banking details, causing a 196% increase in banking data theft on smartphones in 2024.
A recent report by Kaspersky, The Mobile Malware Threat Landscape in 2024, indicates that more than 33.3 million cyberattacks were launched against smartphone users globally in the last year.
One of the major concerns is the rise of Trojan banker malware, which steals login details for online banking, e-payment services, and credit cards.
Banking scams on smartphones
There were 420,000 instances of Android Trojan attacks in 2023, and this soared to 1.24 million in 2024.
Cyber security expert Arsalan Bokhari cautioned that Pakistan is also being threatened by this rising danger. He highlighted that scams are on the rise on a daily basis, which necessitates strengthening the security of digital banking.
Bokhari requested banks, telecommunications companies, and the government to initiate campaigns via social media, television, and SMS to create awareness about secure banking habits.
Notably, the hackers are no longer creating new viruses but are instead spreading the same malware to as many users as possible. While Trojan bankers are the fastest-growing threat, they account for only 6% of total cyberattacks.
The most common threats are AdWare (57%), general Trojans (25%), and RiskTools (12%). In 2024, an average of 2.8 million malware attacks hit mobile devices every month.
Some of the most dangerous malware include 'Fakemoney' imitation apps for scams and hacked versions of WhatsApp with Triada-style Trojans, which install additional malware.
