‘Fakebank’ Android malware has been around for some time. It previously intercepted SMS messages to gather financial information and targeted Russian speaking nations and Russian banks to steal personal banking information.

However, a new variant has been discovered that once installed on a smartphone actually intercepts mobile calls that are made to a bank.

However, rather than going through to their bank victims are directed to a scammer impersonating an agent working for the bank.

But the good news is… at the moment the malware is only targeting South Korean banks and their customers.
But as is so often the way if this scam, and similar, proves to be successful for the cyber criminals it could easily circulate the globe, tweaked and adapted for different target countries.

With this in mind the following tips will help keep you safe not only from ‘Fakebank’ but also other types of malware:
  • Update your Android operating system as soon as you can 
  • Use caution when installing new apps and be particularly wary of apps that are offered on unofficial app stores or from other sources such as social media 
  • When you do install an app take the time to review the permissions requested by an app before it installs 
  • Consider using BullGuard Mobile Security which protects against all types of malware. You can download a FREE version here.

As a case in point the ‘Fakebank’ Android malware is being distributed via social media and unofficial third-party Android market apps.