Mobile Devices Under Siege by Cyberattackers

By Jack M. GermainMay 18, 2021 5:18 AM PT

Mobile phishing exposure doubled among financial services and insurance organizations between 2019 and 2020. Cyberattackers are deliberately targeting phones, tablets, and Chromebooks to increase their odds of finding a vulnerable entry point.

A single successful phishing or mobile ransomware attack can give attackers access to proprietary market research, client financials, investment strategies and cash or other liquid assets, according to a new Lookout research team report released May 6.

The Financial Services Threat Report disclosed that almost half of all phishing attempts tried to steal corporate login credentials. Other findings include that some 20 percent of mobile banking customers had a trojanized app on their devices when trying to sign into their personal mobile banking account.

Despite a 50 percent increase in mobile device management (MDM) adoption from 2019 to 2020, average quarterly exposure to phishing rose by 125 percent. Malware and app risk exposure increased by over 400 percent.

Seven months after the release of iOS 14 and Android 11, 21 percent of iOS devices were still on iOS 13 or earlier, and 32 percent of Android devices were still on Android 9 or earlier. That delay of users updating their mobile devices creates a window of opportunity for a threat actor to gain access to an organization's infrastructure and steal data, according to the report.

"Malicious apps that are delivered through socially engineered phishing campaigns will always be an issue that security teams have to deal with. Attackers know they can target individuals through personal channels such as SMS, third-party messaging platforms, social media, and even dating apps to make a connection and build trust," Hank Schless, senior manager for security solutions at Lookout, told TechNewsWorld.

Higher Security Risks, ..

Support the originator by clicking the read the rest link below.