Banking malware codes are specifically designed to steal financial information and transfer funds

Venugopal N, Director-Security Engineering,  Check Point Software Technologies India & SAARC

"Banking malware codes are specifically designed to steal financial information and transfer funds to their bank accounts"

Another source of banking malware is through the device’s app store itself where fake apps of many payment and banking vendors exist and show up for downloading. A prime example is the BankBot Trojan that was first detected by Check Point. The Trojan was programmed to embed itself in the codes of various apps on the Google Play Store. Once it was downloaded by the unsuspecting user, the hidden banking malware asked for accessibility permissions that granted it almost complete control over the device,” defines Venugopal N, Director-Security Engineering, Check Point Software Technologies, India & SAARC.