Cybercriminals have intensified their use of mass malware distribution tactics to steal banking credentials, leading to a 196 percent rise in Trojan banker attacks on smartphones in 2024 compared to the previous year.
A recent Kaspersky report, The Mobile Malware Threat Landscape in 2024, revealed that over 33.3 million attacks on smartphone users were detected globally, involving various types of malware and unwanted software.
The number of Trojan banker attacks on Android devices surged from 420,000 in 2023 to 1,242,000 in 2024. These malware programs are designed to steal login credentials for online banking, e-payment platforms, and credit card systems.
Attackers use SMS, messaging apps, and fake web pages to trick victims into downloading malicious software, often exploiting trending topics to create a false sense of urgency. In some cases, hackers send messages from compromised contacts, making scams appear more legitimate.
Cybersecurity expert Arsalan Bokhari warned that Pakistani banking users are also at risk from the global rise in banking Trojan attacks, with financial scams being reported daily. He called for stronger cybersecurity laws and stricter regulations on digital banking, emphasizing that public awareness is equally critical in tackling the threat.
He urged banks, telecom operators, and government authorities to collaborate on nationwide awareness campaigns using social media, television, and SMS alerts to educate users on phishing scams, secure banking practices, and cybersecurity risks.
Instead of developing new malware, cybercriminals have increasingly focused on distributing large-scale attacks using existing malicious files. Bokhari stressed that cybersecurity awareness is necessary for all age groups, as fraudsters use sophisticated psychological tricks to steal banking data.
Despite the rapid rise of Trojan banker malware, it remains the fourth-largest category of mobile threats, accounting for 6 percent of attacked users. The most widespread category is AdWare, affecting 57 percent of victims, followed by general Trojans (25 percent) and RiskTools (12 percent).
On average, cybercriminals launched 2.8 million malware, adware, and unwanted software attacks on mobile devices each month in 2024. Kaspersky products blocked a total of 33.3 million attacks over the year. Among the most prevalent threats were ‘Fakemoney’ scams, a group of fake investment and payout apps, and modified WhatsApp versions containing the Triada Trojan, which can install additional malware or adware. These unofficial WhatsApp mods ranked as the third most active threat after cloud-based generic threats.
