Mobile Banking Malware and Regulation Stress the Need for Adaptive Security

The rapid escalation of banking malware has become a concern for everyone involved in the financial sector, especially traditional and digital-only banks. Grifthorse, Godfather, and other malicious software have evolved to impersonate and target hundreds of banks, developing sophisticated means to steal credentials and conduct fraud. According to our research, the total number of unique mobile malware samples increased by 51% from 2021 to 2022, with more than 920,000 samples of Dirty RatMilad, MoneyMonger, and Dark Herring detected. …

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