“New malware that targets mobile banking apps of Australia’s big banks has been detected,” Nick Whigham reports for The Courier Mail. “The sophisticated virus infects Android users and can steal password details and even thwart two-factor authentication.”

“Customers of Commonwealth Bank, Westpac, ANZ and the National Australia Bank are all vulnerable to the malware which can hide on a person’s device until they use the banking app,” Whigham reports. “In addition to stealing the login details of customers, thieves can also intercept verification text messages sent to the device, allowing them to thwart extra security measures put in place by the banks.”

“BankWest, Bendigo Bank, St George Bank, Bank of New Zealand, Wells Fargo and Kiwibank are also among the list of vulnerable banks,” Whigham reports. “Cyber security expert Matthew Warren said the malware comes as no surprise. ‘It’s an ongoing problem with android devices, because of the open source nature of the platform… There’s been a number of malware aimed at banking apps,’ he told news.com.au. Unlike Apple, for instance, which only allows users to download apps from its controlled App Store, Android users can download apps from anywhere.”

Read more in the full article here.

MacDailyNews Take: “Open” in all the wrong ways. Don’t settle for insecure, derivative crap.

If it’s not an iPhone, it’s not an iPhone.

SEE ALSO:
Android malware steals one-time passcodes, a crucial defense for online banking – January 14, 2016
New Android malware is so bad, you’d better off buying a new phone – November 6, 2015
Apple issues iPhone manifesto; blasts Android’s lack of updates, lack of privacy, rampant malware – August 10, 2015
New Android malware strains to top 2 million by end of 2015 – July 1, 2015
Symantec: 1 in 5 Android apps is malware – April 25, 2015
Kaspersky Lab Director: Over 98% of mobile malware targets Android because it’s much, much easier to exploit than iOS – January 15, 2015
Security experts: Malware spreading to millions on Android phones – November 21, 2014
There’s practically no iOS malware, thanks to Apple’s smart control over app distribution – June 13, 2014
F-Secure: Android accounted for 99% of new mobile malware in Q1 2014 – April 30, 2014
Google’s Sundar Pichai: Android not designed to be safe; if I wrote malware, I’d target Android, too – February 27, 2014
Cisco: Android the target of 99 percent of world’s mobile malware – January 17, 2014
U.S. DHS, FBI warn of malware threats to Android mobile devices – August 27, 2013
Android app malware rates skyrocket 40 percent in last quarter – August 7, 2013
First malware found in wild that exploits Android app signing flaw – July 25, 2013
Mobile Threats Report: Android accounts for 92% of all mobile malware – June 26, 2013
Latest self-replicating Android Trojan looks and acts just like Windows malware – June 7, 2013
99.9% of new mobile malware targets Android phones – May 30, 2013
Mobile malware exploding, but only for Android – May 14, 2013
Mobile malware: Android is a bad apple – April 15, 2013
F-Secure: Android accounted for 96% of all mobile malware in Q4 2012 – March 7, 2013
New malware attacks Android phones, Windows PCs to eavesdrop, steal data; iPhone, Mac users unaffected – February 4, 2013

[Thanks to MacDailyNews Reader “Johnny Appleseed” for the heads up.]