Smartphones are one of our necessities in our day-to-day lives. It usually has all of our personal information like bank data, credit card information and addresses that makes it target for cybercriminals, experts warn.
Ransomware, a type of malicious software designed to block access to a specific system until a sum of money is paid, has now started to target smartphones.
Cybercriminals attack victims using Trojan Horse malware that can steal the credentials of mobile banking users, said Fabien Rech, the head of French division of Intel Security. Furthermore, thieves used this stolen log-in credentials to the victim’s account and transfer money out.
Most of these cyberattacks target Android users as the Apple’s iOS system is more secured.
Because of this, Australia’s Cog System developed phones with extra security features for consumers concerned about hacking.
It is called “the world’s most secure smart phone” as the company unveiled in Barcelona the D4 Secure SDK.
“Protecting your mobile phone implies not installing unofficial applications and regularly updating its operating system when asked to do so. And of course paying attention to how you manage passwords,” said Rech.