FBI warns about fraudsters targeting banking app users

From welivesecurity.com

As the use of mobile banking apps surges during COVID-19 lockdowns, so does the risk that these platforms will be exploited by cybercriminals, warns the FBI’s Internet Crime Complaint Center (IC3).

Citing estimates by US financial technology providers, the Bureau’s online fraud wing said that more than 75 percent of Americans used mobile banking in some form in 2019. Since the start of this year, a 50-percent spike in the usage of banking apps has been observed.

The move to mobile banking hasn’t escaped the attention of cybercriminals, and IC3 expects crooks to deploy various techniques to target mobile banking customers; mainly through app-based banking trojans and fake banking apps.

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