RED ALERT! Banking Trojan Revised to Steal More Than Just Your Money

Banking Trojans are in no way a thing of the past. In fact, they are being revived as a means for getting malware onto mobile devices. This is no surprise as these handy little computers are usually nearby us at all times. In a recent discovery by the security firm SfyLabs, a formerly common bit of malware for Android, Red Alert has been improved and updated to version 2.0. And this one pulls no punches. It can cause a lot of grief should it land on your device.

This malware can do the following:

• Steal login credentials for anything on the device including for financial apps and social media. Researchers know of 60 apps it targets.

• Collect the information from your contacts list.

• Bypass multifactor or two-factor authentication. This means that even if you are receiving a text or code to enter before access is granted to your accounts, the malware can go around that.

• Stop notifications from alerting you including blocking incoming calls related to financial transactions.

This is not expected to be a complete list. Red Alert is expected to be very widely distributed as well. It’s available on a Russian hacking forum for rent at $500 to anyone who wants to use it.

How is Red Alert 2.0 Infecting Android Phones? Red Alert 2.0 has already infected several Android apps delivered on third-party app stores. Installing apps from one of these unofficial app stores is called Sideloading. That’s why it’s important to stick to the official app stores to get all your apps. That would be the Google Play Store for Android, the Apple Store for Apple products, and Blackberry App World if you have one of those. You should know what your store is for whichever device you are using.

There is some positive news. At this time, Red Alert 2.0 only affects older Android devices. If you are using the Nougat or Oreo operating system, you should not be at risk of downloading this right now. This is a good time to update your device if you are using marshmallow or older.