A new and very sophisticated malware attack on customers of the Australian banking sector could cause unwary customers to have money stolen from accounts. Westpac, NAB, Commonwealth and ANZ have all been successfully targeted with other Institutions and Services under attack.
If you are using an Android phone, it is very easy to remove the security setting that forces apps to be downloaded from the Google Play Store, however once removed it is very easy to download apps from other locations that look like the real deal but contain sophisticated malware aimed at getting access to your accounts.
The malware has been described as extremely complex and can even defeat two factor security. It can even divert SMS messages sent to customers.
A recent report stated that infected devices can send more than banking details, i.e medicare cards , password information, passwords to other applications. this means that if a malicious trojen gains access to your device you may become the victim of not only bank fraud but identity theft.
If you are an Andrdoid user, and you have disabled app download security, it would be very prudent to re-enable it. Several good security applications exist for android and users should be investigating and installing one that suits your phone and budget. Please note that IOS (Apple iPhone / tablet ) users are not affected.
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