Android’s security has been labelled ‘not strong enough’ to protect against an impending wave of mobile banking app fraud by Amit Klein, manager of the security team at malware specialists Trusteer.
Speaking in interview with Credit Union Times, Klein stated the next year is likely to be a rocky period for Android, “We expect to see a lot more fraud in the next 12 months – much more. As more financial institutions issue Android apps, the fraud will go up.”
Klein’s strongly worded warning stems from Google’s current refusal to security check apps before making them available for download, a policy which has seen the Android Market subjected to several outbreaks of malware. The number of third-party Android app stores, who are even less scrupulous with their submissions, is also cause for concern.
“We believe this will be a serious threat,” commented Klein. “We are not seeing Google putting up a good fight against the fraudsters. We are seeing Google doing what Microsoft did 10 years ago which was basically the bare minimum. That’s not enough; the Android security model is not strong enough.”
Although there are no known instances of financial apps being repackaged with malware for Android, such apps are sure to make obvious targets for hackers in the future. To protect yourself against any unwanted smartphone intrusion, check out Life Of Android’s six tips to arm your Android against malware.