“Fakebank” isn’t new malware, but a new version redirects calls to the hacker’s number instead of banking customer support. According to Symantec, it is currently operating in South Korea and Russia. John Gunn, vice president of corporate communications for VASCO Data Security commented below.

John Gunn, Vice President of Corporate Communications at VASCO:

John-Gunn“Many people mistakenly underestimate the pioneering capacity of hackers, they are every bit as innovative as major security solution providers.

Blocking mobile calls is just one element of an attack, redirecting the victim’s call to the hacker’s fake agents who pose as the bank could be even more sinister.

This is a preview of the coming onslaught against mobile banking. Smart banks are already investing in protecting their mobile apps and the entire mobile platform against future attacks.”