Mobile apps of seven larger banks in India affected with Malware – Still not yet fixed

[jpshare]Mobile apps of seven large banks in India infected with Malware that capable of stealing financial information, revealed by US-based digital security firm FireEye.

In India, we have seen monetarily prompt cyber-criminal groups propelling sophisticated attacks to steal funds from many potential sources: organizations, buyers, ATMs and banks.

“As India’s digital payment systems handle more transactions, they will become more lucrative targets,” Vishal Raman, India Head at FireEye told BusinessLine.

As per US-based digital security firm FireEye, banking network frauds have spread all over the world. The firm has followed such events that influenced banks in Ukraine, Ecuador and India, with misfortunes totaling more than $100 million.

“We have found mobile apps of seven large banks in India infected with malware that has the capability to steal user credentials. We have informed the banks about the same,” Raman said, without disclosing the names of the banks to prevent misuse of the vulnerabilities.

Sophisticated Malware’s

Financial attackers have improved their tactics, techniques, and procedures to the point where they have become difficult to detect and challenging to investigate and remediate,” he said.

FireEye finds’s two Sophisticated malwares with Indian Banking apps.

1. Webinjects.
2. Bugat.

Webinjects

Webinjects are utilized by banking trojans to alter the contents of a web page that user sees on a compromised device. The trojan can inject code, for example, JavaScript into the program to cooperate with the site content and perform different activities.

Bugat

Bugat Trojan communicates with a command and control server from where it gets directions and updates to the list of financial related sites it targets. This correspondence can be encoded keeping in mind the end goal to bypass traffic examination tools.

Bugat accompanies abilities ordinarily found in malware used to perform credential theft OR financial fraud.

“Based on our analysis of Bugat configuration files observed in August 2015, targets exclusively related to financial services used by consumers, corporations, and financial services were added during this time, continuing the operators’ focus on this sector,” Raman said to Business Line.