Threat of the month: GM Bot
Bot Android malware
What is it?
GM Bot is an Android-focused mobile malware targeting mobile banking and payment apps to steal user credentials. Two different versions of the malware are currently available to hackers.
How does it work?
When a user accesses a mobile banking application, GM Bot launches fake overlay displays that mimic the banks' apps, so the victim enters their credentials without realizing they're on a fake window. GM Bot includes spyware to eavesdrop, intercept, and forward SMS messages a bank sends to verify transactions. It can also forward verification phone calls from a bank to the attacker, instead of the true account holder.
Should I be worried?
Yes – in late 2015, the original source code for GM Bot was leaked making it available for hackers for free. A new, more sophisticated version has also launched for hackers to purchase.
How can I prevent it?
Beware of abnormalities when accessing a mobile banking apps – i.e receiving unsolicited verification codes. Banks should bolster application security.