Many assume that our financial apps are safe from malware as long as our devices remain non-rooted. However, this belief couldn't be further from the truth. Malware poses a significant risk to both rooted and non-rooted devices, and the consequences can be dire, especially when it comes to our sensitive banking app data.

The Coexisting Threat of Malware

One of the most alarming aspects of malware is its ability to operate covertly alongside legitimate apps. These malicious software programs are designed to work in stealth mode, seamlessly coexisting with other apps on your device. What's even more concerning is their capability to access and retrieve data from genuine apps, including your trusted banking applications.

How Malware Targets Your Financial Data - How exactly can a coexisting malware app compromise your banking or financial app data? Let's dive deeper into some of the methods:

Intercepting Communications - Malware apps can intercept the communications between your banking app and your bank's servers, silently grabbing hold of your login credentials, account information, and even two-factor authentication codes, leading to a silent invasion with potentially devastating consequences.

Capturing Screenshots - Another stealthy move in the malware playbook involves taking screenshots of your banking app while you're using it, which may seem innocuous but can lead to the theft of your login credentials, account information, and two-factor authentication codes, ultimately violating your privacy and financial security.

Rogue Apps with Integrated Malicious Code - It's crucial to be vigilant about rogue apps published in third-party play stores or other channels, as they often hide integrated malicious code, presenting hidden dangers that put your device and data security at risk.

Malware can be installed on non-rooted devices through a variety of means. While rooted devices can provide deeper access to malicious software, many techniques do not require root access to compromise a device.

Malware can be installed on non-rooted devices through a variety of means. While rooted devices can provide deeper access to malicious software, many techniques do not require root access to compromise a device.

The image below illustrates the typical methods through which malware can infiltrate non-rooted devices:

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To ensure the security of mobile devices and guard against a range of security threats, organizations should prioritize user education initiatives as their primary line of defense. These awareness campaigns empower end-users with the knowledge and practices required to defend against potential attacks. Users must be educated on the importance of exclusively downloading apps from reputable sources like official app stores. Additionally, they should exercise caution when granting app permissions, conducting thorough reviews to ensure that permissions align with the app's legitimate functionalities. Moreover, maintaining the operating system and security software of devices up to date should be a standard practice. These updates often incorporate crucial security patches that provide protection against malware and vulnerabilities. By instilling these practices, organizations can cultivate a culture of heightened mobile security awareness among their workforce, significantly reducing the risk of security breaches.

Furthermore, organizations should implement advanced measures to safeguard against sophisticated threats. This includes monitoring for rogue mobile applications published in third-party app stores, vigilantly identifying spear phishing campaigns with look-alike or typo-squatted domains, and continuously verifying mobile app security controls, both native and those imposed by Runtime Application Self-Protection (RASP) solutions. Continuous Threat Exposure Management (CTEM) is a practice that continuously assesses mobile application security posture from the outside in a complete zero-knowledge manner. By leveraging the continuous security assurance provided by CTEM, organizations can enhance their mobile security posture, effectively shielding against a wide range of threats, including data breaches and malware infections, and protecting sensitive user information. Recognizing that the mobile threat landscape is dynamic and continually evolving underscores the importance of proactive measures and continuous monitoring as integral components of a robust mobile security strategy.

The NST Assure Continuous Threat Exposure Management (CTEM) platform enables your organization to continually assess the security stance of your mobile applications. It ensures that security measures, like those from RASP and similar solutions, are consistently active and effective in defending against all types of mobile application threats.