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The Silicon Review Asia

Beware!! New malware ‘EventBot’ is targeting banking applications

Beware!! New malware ‘EventBot’ is targeting banking applications

Financial technology and digital banking has improved lives of many. With more time being saved, people are enjoying increased productivity and effortless banking. Digital banking is seeing higher demand, especially during virus outbreak. Keeping its benefits apart, one major drawback which is haunting the users is its security. Malwares seem to have no end; we get to hear one or two new ones daily. Recently, an Android mobile banking malware called EventBot which steals user data from financial applications is spreading, warns the Indian Computer Emergency Response Team (CERT-In).

This mobile banking Trojan trespasses Android's in-built accessibility features to steal user data, read user SMS messages and intercept SMS messages, allowing malware to bypass two-factor authentication.

EventBot targets over 200 different financial applications, including banking applications, money-transfer services, and cryptocurrency wallets, or financial applications based in the US and Europe region at the moment but some of their services may affect Indian users as well.

The financial applications like Paypal Business, Revolut, Barclays, UniCredit, CapitalOne UK, HSBC UK, TransferWise, Coinbase, paysafecard etc. are largely targeted, said CERT-In. While EventBot has not been seen on Google Play Store yet, it uses several icons to masquerade as a legitimate application.

EventBot is using third-party application downloading site to infiltrate into the victim device, the CERT-In warned. Further, the malware prompts the users to give access to their device accessibility services.

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