However, there is one piece of malware that can now block the victim from contacting the bank completely whilst they are trying to contact their bank. The new found malware is known as Android.Fakebank that is targeting Android smartphones. The moment it is in the device, it fools the victim into substituting any banking apps they have installed with fake versions that allow the attacker to gain entry to the victim’s funds. Symantec was the first security firm to discover the malware in October 2013. However, it has now been upgraded with call-blocking functionality, the company says in a blog post. It keeps a watch on all the outbound calls that the infected mobile device makes, and if any are to some financial institutions, then they are blocked automatically. This means that the attacker will get extra time to operate given that you would not be able to contact your bank to check if everything is fine. Very skilful! The people of South Korea and Russia are being targeted by the trojan in question are in, along with the banks in those countries. However, similar malware could probably exist somewhere else in the world too. If you want to keep yourself secure, then you should download only trusted apps from the official Google Play app store. Also, ensure that your settings do not allow installation of apps from unknown sources (set to block these by default).
