According to a recent article in the Wall Street Journal, Malicious software programs are gaining popularity around the world as hackers look for new and lucrative ways to attack the financial-services industry. Cyber criminals use the malware to steal banking credentials from unsuspecting consumers when they log on to their bank accounts via their mobile phones.
The malware typically gets onto a phone when a user clicks on a text message from an unknown source or taps an advertisement on a website. Once installed, it often lies dormant until the user opens a banking app. Attacks have occurred on the two most common mobile operating systems— Apple Inc.’s iOS and Alphabet Inc.’s Android. Apple has urged iPhone users to update their software due to a security flaw that could allow a hacker to remotely take control of the operating system.
The growing threat represents a new entry point for criminals who typically steal bank credentials by other means. The Federal Financial Institutions Examination Council, which brings together five banking regulatory bodies, has updated its guidance for banks to include potential threats facing mobile financial services, including mobile-phone malware.
Mobile phones are considered particularly vulnerable to hackers because consumers typically don’t install anti-malware protection onto their devices. It is imperative that businesses do everything they can to protect their devices from ever-evoloving threats from hackers.
How can businesses protect their mobile phones?
ACE IT Solutions partners with IBM to protect our clients’ mobile devices from hackers. IBM’s MaaS 360 is rated number one in the Gartner Magic Quadrant for Enterprise Mobility Management Suites. IBM MaaS360 and ACE IT Solutions have maintained a focus on helping customers of all sizes across all industries enable trusted apps and content on any device, anytime, anywhere.
Contact ACE IT Solutions at 646.558.6358 for pricing and more details about MaaS360 — rated the number one mobility management solution by Gartner. We can set you up with a 2-week free trial so you can see how easy it is to use.
Download the full Gartner report here: https://www.maas360.com/lp/879
Read the Wall Street Journal article here: http://www.wsj.com/article_email/mobile-bank-heist-hackers-target-your-phone-1472119200-lMyQjAxMTA2NTI0ODUyNzg1Wj