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Banking apps on Android at risk of cyber attacks?

According to the chief executive and co-founder of Russian anti-virus Kaspersky Labs, Eugene Kaspersky, mobile banking applications on Android phones are the ones that are most vulnerable to cyber crime. Kaspersky said that 99% of mobile phone attacks occur on Android since Apple has strict controls and doesn’t allow third party applications.

AndroidPIT BankofAmerica
Online banking account with Bank of America / © AndroidPIT

The growing shift from computers to mobile devices means that many people will be unprotected when a major cyber attack happens because cellular users are not really adequately protected against attacks.

"I expect something really bad to happen to change people's minds and awareness," he said. Kaspersky also mentioned that it took the Chernobyl virus in 1998 to get people to really start protecting their computers against viruses and he predicts that the same thing will happen with mobile devices.

Kaspersky was speaking from a conference in Israel where he wants to open a research and development lab for his company which is the creator of one of the best selling anti-virus programs in the United States and has stolen market share from other well known anti-virus programs such as Symantec’s Norton, Intel’s McAfee and Trend Micro.

He also mentioned that it is quite difficult to pinpoint where most cyber attacks are coming from but the perpetrators of such acts typically speak Chinese, Spanish, Portuguese and Russian.

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  • I never ever visit my bank from my phone.
    I go there in person, use the ATM in front of the bank, or firefox on my win-box.

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