What Is A Banking Trojan & How to Avoid it

A banking trojan is a major threat to the security of user data and transactions. A Banking Trojan can trick you into downloading what appears to be a harmless file, which then quietly acts to clean up your bank account.

What is a Banking Trojan?

A banker Trojan is a piece of malware intended to get financial information or hack users through a banking or financial system, commonly through an online banking interface.

How do they operate?

Banking Trojans operate in various ways, from stealing login credentials and hijacking SMSes to uploading contact lists and SMSes on a malicious server or even displaying an overlay screen (to capture details) on top of legitimate apps and carrying out other such malicious activities.

Banking trojans can also intercept passwords or secure information by different means, putting your sensitive data and your money at great risk of being hacked.

How to avoid Banking Trojan?

You can opt for the following ways to avoid Banking Trojan:

  • Avoid downloading apps from third-party app stores or links provided in SMSes or emails.
  • Always keep ‘Unknown Sources’ disabled. Enabling this option allows installation of apps from unknown sources.
  • Most importantly, verify app permissions before installing any app even from official stores such as Google Play.
  • Install a reliable mobile security app that can detect and block fake and malicious apps before they can infect your device.
  • Always keep your device OS and mobile security app up-to-date.