‘Malware targeting Android phone users’ money in banks’

MANILA, Philippines – Global Internet security firm Kaspersky Lab has warned of a new malware targeting Android smartphone users who do their banking online.

The malware – Asacub – not only steals victims’ information but also their money in the bank.

When it was first identified, Asacub displayed all the signs of an information stealing malware. Some versions of the malware target users of online banking in Russia, Ukraine and the US.

“As of now, the known targets of the cybercriminal group behind Asacub Trojan are financial institutions in Russia and in USA. But that doesn’t mean Android users not residing in those countries can relax and assume they are safe,” Roman Unuchek, senior malware analyst at Kaspersky Lab USA, said recently.

“With the rise of online banking using Android smartphones, no one is actually safe. Everyone must now prioritize their security and take extra steps in protecting their devices,” Unuchek said.

With millions of people worldwide using their smartphones to pay for goods and services, 2015 saw cybercriminals exploit this by focusing their efforts on developing malicious financial programs for mobile devices.

For the first time, a mobile banking Trojan entered the Top 10 most prevalent malicious programs targeting finances last year.

Kaspersky Lab said the Asacub Trojan is yet another example of this worrying trend.

“When analyzing this Trojan, we found that the Asacub malware has connections to criminals with links to a Windows-based spyware called CoreBot. The domain used by Asacub’s Command & Control center is registered to the same person as tens of domains that were used by CoreBot. It is therefore highly likely that these two types of malware are being developed or used by the same gang, who see huge value and criminal gain in exploiting mobile banking users,” warned Unuchek.