CAMBRIDGE, Mass.--(BUSINESS WIRE)--The sprawling mobile devices marketplace has spawned an industrialized mobile financial fraud plexus that today drives increasingly sophisticated criminal technical innovation to exploit the mobile devices explosion. And it is funded by increasing revenues derived from potent new developments in mobile malware, a new APWG report released concludes.
In a “post-PC” era, mobile devices increasingly present an attractive, practical and economical alternative to traditional desktops. In the coming years, global mobile payments are predicted to exceed $1.3 trillion, moreover, presenting a mother load of opportunity for cybercrime gangs who appreciate the vulnerabilities of these peripatetic communications and computing platforms, the APWG’s analysis reports.
Arresting and rolling back the successes of the mobile financial fraud marketplace requires a global response based on cooperation, education and awareness, according to the APWG in the new industry advisory whitepaper, Mobile Threats and the Underground Marketplace.
APWG Mobile Fraud Research Coordinator Jart Armin said, “On one hand we can see just one example of a major European bank that in early 2012 had 100,000 mobile banking users, and by April 2013, 4 million. In contrast, there were around 50 generally known samples of mobile malware in 2010, rising in 2013 to some 30,000 samples. “
This latest paper from the APWG provides a rhetorical approach towards mobile crimeware and the intrusion supply chain's structure and examines subjects in depth from a practitioner’s perspective.
Key points that illustrate the potential for growth of an established underground malware market:
- 5.6 million potentially-malicious files reported on Android (APK, dyn-calls, checks-GPS, etc.), of which 1.3 million are confirmed malicious by multiple AV vendors
- Mobile payments are on track to top $1.3 trillion in 2015, bring intense criminal interest
- By 2015 – est. 2 billion + mobile devices
- China, as an example, now has 564 million Internet users; 75% are mobile
The entire report, the initial installment of the APWG’s Mobile Fraud series, can be downloaded here: http://docs.apwg.org/reports/mobile/apwg_mobile_fraud_report_april_2013.pdf
The Mobile Crimeware and Criminal Services Market Supplement that details technical aspects of mobile-focused crimeware can be downloaded here: http://docs.apwg.org/reports/mobile/apwg_mobile_report_suppplement_april_2013.pdf
“Mobile fraud we can clearly state has become an industrialized process, although globally we show currently some countries are more at risk than others. This APWG white paper helps to demonstrate the existence of such an industry and how it operates through stealthy intrusion and a crimeware supply chain," Mr. Armin concluded.
The APWG whitepaper defines these malware markets and demonstrates the modus operandi of an industry that is self-funding, prosperous, vertically stratified and agile.
Types of malware and attack methods under analysis include: spyware, phishing direct attacks, Trojans, worms, apps delivered through malware, pocket botnets and blended attacks, many of which are designed to steal or pilfer money from users. Equally as invasive can be “track and trace” intrusion techniques used to extract intelligence about an owner’s usage, contacts, and habits.
About the APWG
The APWG, founded in 2003 as the Anti-Phishing Working Group, is the global industry, law enforcement, and government coalition focused on unifying the global response to electronic crime. Membership is open to qualified financial institutions, online retailers, ISPs and Telcos, the law enforcement community, solutions providers, multi-lateral treaty organizations, research centers, trade associations and government agencies. There are more than 2,000 companies, government agencies and NGOs participating in the APWG worldwide. The APWG's www.apwg.org and education.apwg.org websites offer the public, industry and government agencies practical information about phishing and electronically mediated fraud as well as pointers to pragmatic technical solutions that provide immediate protection. The APWG is co-founder and co-manager of the Stop. Think. Connect. Messaging Convention, the global online safety public awareness collaborative www.stopthinkconnect.org and founder/curator of the eCrime Researchers Summit, the world’s only peer-reviewed conference dedicated specifically to electronic crime studies www.ecrimeresearch.org.
Among APWG's corporate sponsors are as follows: 360, Afilias Ltd., AhnLab, AT&T(T), Avast!, AVG Technologies, BBN Technologies, Barracuda Networks, BillMeLater, Bkav, Booz Allen Hamilton, Blue Coat, BrandMail, BrandProtect, Bsecure Technologies, Check Point Software Technologies, Comcast, CSIRTBANELCO, Cyber Defender, Cyveillance, DBAPP Security, Domain Tools, Donuts.co, Easy Solutions, eBay/PayPal (EBAY), eCert, EC Cert, ESET, EST Soft, Facebook, Fortinet, FraudWatch International, F-Secure, GlobalSign, GoDaddy, Google, GroupIB, Hauri, Hitachi Systems, Ltd., Huawei Symantec, ICANN, Iconix, IID, Internet.bs, IronPort, ING Bank, Intuit, IT Matrix, Kindsight, LaCaixa, Lenos Software, Malcovery Security, Makrosystems, MailShell, MarkMonitor, M86Security, McAfee (MFE), Melbourne IT, MessageLevel, Microsoft (MSFT), MicroWorld, Mirapoint, MyPW, NHN Business Platform Corp., nProtect Online Security, Netcraft, Network Solutions, NeuStar, Nominet, Nominum, Public Interest Registry, Panda Software, Phishlabs, Phishme.com, Phorm, Planty.net, Prevx, Proofpoint, QinetiQ, Return Path, RSA Security (EMC), RuleSpace, SAIC (From Science to Solutions), SalesForce, SecureBrain, S21sec, SIDN, SoftForum, SoftLayer, SoftSecurity, SOPHOS, Square, SunTrust, SurfControl, Symantec (SYMC), Tagged, TDS Telecom, Telefonica (TEF), TransCreditBank, Trend Micro (TMIC), Vasco (VDSI), VeriSign (VRSN), Websense Inc. (WBSN), Wombat Security Technologies, Yahoo! (YHOO), zvelo and ZYNGA.
