{"id":815139,"date":"2025-03-08T07:00:00","date_gmt":"2025-03-08T05:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=815139"},"modified":"2025-03-07T11:23:28","modified_gmt":"2025-03-07T09:23:28","slug":"warning-over-new-tactic-used-by-criminals-to-drain-your-bank-accounts","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/815139\/warning-over-new-tactic-used-by-criminals-to-drain-your-bank-accounts\/","title":{"rendered":"Warning over new tactic used by criminals to drain your bank accounts"},"content":{"rendered":"\n

A new report revealed that criminals are now targeting smartphones to gain access to banking accounts and credentials using malware through apps and malicious attachments and links. <\/p>\n\n\n\n

This is according to international cybersecurity firm Kaspersky, which outlined the major fraud trends during the Mobile World Congress 2025.<\/p>\n\n\n\n

Kaspersky noted that the number of Trojan banker attacks on smartphones surged by 196% in 2024 compared to the previous year.<\/p>\n\n\n\n

“Cybercriminals are shifting tactics, relying on mass malware distribution to steal banking credentials<\/strong>,” Kaspersky said. <\/p>\n\n\n\n

Kaspersky added that in 2024, cybercriminals launched an average of 2.8 million malware, adware, and unwanted software attacks on mobile devices every month.<\/p>\n\n\n\n

Over the past year, the security firm detected over 33.3 million attacks on smartphone users globally, involving various types of malware and unwanted software.<\/p>\n\n\n\n

“The number of Trojan banker attacks on Android smartphones increased from 420,000 in 2023 to 1,242,000 in 2024,” it said. <\/p>\n\n\n\n

Kaspersky explained that trojan banker malware is designed to steal user credentials for online banking, e-payment services and credit card systems.<\/p>\n\n\n\n

“Cybercriminals trick victims into downloading Trojan bankers by spreading links via SMS or messaging apps, malicious attachments in messengers, and redirecting users to malicious webpages. <\/p>\n\n\n\n

“They can even send messages from a hacked contact\u2019s account, making the fraud appear more trustworthy. <\/p>\n\n\n\n

“To deceive users, attackers often exploit trending news and hype topics to create a sense of urgency and lower victims\u2019 guard,” the firm added.<\/p>\n\n\n\n

\u201cScammers have started to scale down their efforts to create unique malware packages, focusing instead on distributing the same files to as many victims as possible. <\/p>\n\n\n\n

Kaspersky security expert Anton Kivva stressed the concern of this rising threat, highlighting that no one is completely safe from well-crafted scams and psychological tricks designed to steal banking data.<\/p>\n\n\n\n

Kaspersky’s report said that although Trojan bankers are the fastest-growing type of malware, they rank fourth overall in the share of attacked users at 6%.<\/p>\n\n\n\n

“The most widespread category remains AdWare, accounting for 57% of attacked users, followed by general Trojans (25%) and RiskTools (12%). The ranking includes malware, adware and unwanted software,” it said. <\/p>\n\n\n\n

South Africans are not safe <\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Locally, The South African Banking Risk Information Centre (SABRIC) and Standard Bank have already warned that smartphones are often targeted for the valuable data they contain.<\/p>\n\n\n\n

SABRIC highlighted that a survey of 29 banking fraud professionals from nine of South Africa\u2019s top banks identified the most concerning types of fraud: APP fraud and vishing (52%), phishing and smishing (48%), and SIM swap fraud (35%).<\/p>\n\n\n\n

Standard Bank also flagged an increase in fake social media profiles and deceptive apps that impersonate bank officials to scam consumers and businesses.<\/p>\n\n\n\n

The bank warned of a fraudulent WhatsApp group circulating on social media and claimed affiliation with an investment app called SBG SI Trader. <\/p>\n\n\n\n

The app falsely claims connections with Standard Bank, SBG Securities, and other platforms, including SBG Securities Online Share Trading.\u00a0<\/p>\n\n\n\n

It also mentions the bank\u2019s Financial Sector Conduct Authority operating license and one of its employees, David Hodnett.<\/p>\n\n\n\n

\u201cWe would like to alert you that this information is fraudulent. Please remain vigilant to avoid falling victim to phishing scams, cybercrime, or unauthorised access by fraudsters,\u201d the email read. <\/p>\n\n\n\n

\u201cWe encourage you to also be cautious of other social media, email, or phone (WhatsApp or SMS) communications requesting your personal information.\u201d<\/p>\n\n\n\n

The Southern African Fraud Prevention Services (SAFPS) has also noted a rise in mobile phone thefts aimed at exploiting banking apps.<\/p>\n\n\n\n

In light of these threats, the SAFPS advises that if a phone is stolen, the priority should be contacting your bank to de-link your banking app from your accounts immediately.<\/p>\n\n\n\n

After securing your financial information, you should contact your mobile service provider to cancel the SIM card.<\/p>\n\n\n\n

This sequence is crucial to minimising the risk of unauthorised access to your financial data.<\/p>\n\n\n\n

\n
Standard Bank warning to South Africans who use their phones and social media<\/a><\/blockquote>