In 2024, mobile banking malware affected nearly 248,000 users, a 3.6x jump from 69,000 the previous year. The surge was most significant in the year’s second half, highlighting growing threats in mobile finance.
Banking malware
The Mamont Trojan, the most widespread mobile banking malware, caused 36.7% of attacks.
Emerging in late 2023, it mainly targeted users in Russia and CIS countries. It spread through scams like “Is that you in the picture?” and fake store or delivery tracking apps.
Turkey remained the top target for mobile banking malware, with 5.68% of users facing threats, up 2.7 points from last year.
Indonesia (2.71%) and India (2.42%) followed, showing the global scale of the threat.
In 2024, the malware landscape shifted, with Bian.h dropping to eighth place while new threats like Agent.rj (11.14%), UdangaSteal.b (3.17%), and Coper.c (2.84%) rose in rank.
This trend shows cybercriminals are constantly evolving their tactics to evade detection and expand their reach.
The rise in mobile banking malware highlights the urgent need for stronger security in mobile finance.
As cybercriminals use social engineering to spread malware, user awareness and robust security measures are crucial.
Financial institutions and app developers must focus on multi-factor authentication and real-time threat detection to counter these risks.
Users should only download apps from official stores, use strong passwords, enable multi-factor authentication, and install trusted security software.
Staying alert to suspicious messages and verifying financial communications can help prevent attacks.
With digital finance growing, the battle between cybercriminals and security experts continues, making innovation and user education essential to protect financial transactions.
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