Subscribe to CIO Magazine »

AusCERT 2011: Mobile banking malware on the rise

Mobile OSes not as safe as they seem
Trusteer chief technology officer, Amit Klein

Trusteer chief technology officer, Amit Klein

Chief technology officer of Trusteer, Amit Klein, has spoken about the trends of mobile malware, citing mobile banking as the next big threat to the industry.

In the keynote session of the second day at the AusCERT conference on the Gold Coast, Klein said the financial and mobile malware began to increase during 2006, and has only become more prevalent in recent years.

“The financial malware for desktop started flourishing mid last decade around 2004 to 2005; we started seeing some earnest attempts at malware,” he said.

“We started seeing third generation malware as early as 2006 but market domination occurred around 2008.”

Klein identified a number of tricks used by those committing attacks on mobile devices, with botnets cited as one element behind attacks.

Check out our comprehensive AusCERT 2011 coverage

“Distributed command and control systems enable survivability and increases resistance to takeover attempts and ensuring there are many hosts out there to control the botnet,” he said.

“The botnet market has evolved from a one-stop shop into segments.”

Identifying a variety of myths associated with mobile banking malware, Klein said complacency by consumers is a dangerous trend that will only become worse once mobile banking increases in popularity.

“Sandboxing provides a malware free device, mobile apps are controlled, and there’s no money to steal in mobile apps are all myths will be proven wrong,” he said.

Citing Zeus attacks as one method that could be used to intercept Blackberry, Symbian and Windows Phone 7 devices, Klein said these attacks have been used to infiltrate banks in countries as varied as Spain, Poland and Germany, saying mobile devices will be even easier to infiltrate.

“Pay attention to how sophisticated and complex this attack is on behalf of the fraudster - what happens if or when mobile banking takes off? Then they will only have the mobile device to take care of.”

Klein's comments come as a US consultant said at AusCERT yesterday that a second Stuxnet worm will soon arrive.

Follow Lisa Banks on Twitter: @CapricaStar

Follow Computerworld Australia on Twitter: @ComputerworldAU

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: CERT, Symbian
References show all
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: Trusteer, Amit Klein, mobile malware, auscert 2011, banking mobile
Latest Blog Posts
  • Information Management
    Valuable data can be a needle in a haystack, but by leveraging the value in existing information assets, organisations can generate real and achievable gains in revenue generation, IT investments and productivity gains. This whitepaper discusses how Information Management (IM) is a multi-faceted discipline that can be employed to meet or exceed your business objectives.
    Learn more »
  • eBook - Flash Buyers Guide
    This paper provides a guide for evaluating and selecting the best all-flash storage for your enterprise class environment. The detailed content covers all product classes and where they can be best applied to your circumstances, as well as what the key elements are for each to avoid potential pitfalls in the selection process.
    Learn more »
  • Swiss Nuclear Power Plant Improves Business Continuity
    Learn how Kernkraftwerk Leibstadt (KKL), a Swiss nuclear power plant, achieved 95% virtualization with 50% fewer servers in just two months by implementing a Vblock System. The solution ensures that KKL can reliably deliver the continuous electricity supply safely and cost effectively.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Latest Jobs
Salary Calculator

Supplied by

View the full Peoplebank ICT Salary & Employment Index

Recent comments