The FBI is warning that cybercriminals and fraudsters are increasingly targeting mobile banking apps with malware in order to steal credentials and conduct account takeover attacks.
In a public alert published Wednesday, the FBI's Internet Crime Complaint Center warns that fraudsters have increasingly used malicious apps as the COVID-19 pandemic has driven an increasing number of customers to turn toward mobile apps for their banking needs.
"Americans are increasingly using their mobile devices to conduct banking activities such as cashing checks and transferring funds," the FBI notes. "As the public increases its use of mobile banking apps, partially due to increased time at home, the FBI anticipates cyber threat actors will exploit these platforms."
As a result of this shift in banking, fraudsters and cybercriminals are increasingly deploying malware, such as Trojans, as well as fake apps in an effort to steal credentials and conduct account takeover attacks, according to the FBI.