Mobile Banking Malware Targets Surge 258% in 2024

The number of Android and iPhone users targeted by bank malware has surged dramatically, with a 258% year-on-year increase in 2024, according to a report by the cybersecurity firm Kaspersky. This alarming trend highlights the growing shift by cybercriminals towards mobile devices as a primary vector for financial fraud. The report reveals that the number of smartphone users encountering mobile banking Trojans jumped from 69,200 in 2023 to 247,949 in 2024, marking a 3.6-fold increase.

The most prevalent mobile malware targeting bank accounts in 2024 was Mamont, which accounted for approximately 36.7% of the market share. This malware, which first emerged at the end of 2023, is predominantly distributed in Russia and the Commonwealth of Independent States (CIS). Its distribution methods range from simple scams, such as the "Is that you in the picture?" trick, to more complex social engineering schemes involving fake stores and delivery tracking apps.

The regions most affected by mobile banking malware in the past year were Europe and Asia. In contrast, the most significant impacts on PCs were observed in Central Asia. Afghanistan, Turkmenistan, and Tajikistan were the countries with the highest shares of banking Trojans, with Afghanistan seeing a rise from 6% to 9%, Turkmenistan from 5.2% to 8.8%, and Tajikistan from 3.7% to 6.2%.

Looking ahead, Kaspersky’s senior web content analyst Olga Svistunova warns that the sophistication of cybercriminal tactics is expected to increase. Financial phishing attacks are likely to become more personalized and targeted, exploiting vulnerabilities in everyday digital habits. This trend underscores the need for heightened vigilance and comprehensive protection measures to safeguard against these evolving threats.