The malware called Android Banksy has been updated to intercept the code, leaving the accounts of users exposed to attacks.
The two-factor authentication is one of the good resources used to protect online bank accounts. When using the feature, users leave life harder for attackers, keeping their bank account information safe. However, according to new research from security firm Symantec, new malware for Android intercepts two-factor authentication codes to break into accounts.
Discovered Android Malware Steals Authentication Codes
The malware called Android Banksy has been updated to intercept the code, leaving the accounts of users exposed to attacks. Currently, many banking applications require a login and password and a temporary code so that users can access their online accounts.
The authentication code is sent via SMS but can also be delivered through an automated phone call. In theory, this provides greater safety since the SMS messages can not be intercepted by malware, according to Dinesh Venkatesan, Symantec.
But the Banksy has been updated to forward all calls to the attackers. The malware also “supports disable and enable the silent mode, and lock the device so that the victim is not notified of an incoming call,” Venkatesan wrote.
With access to a temporary authentication code, attackers use the login credentials obtained earlier to access the victim’s account. Symantec detected the Banksy in July 2014, and since then, the malware could lead people to enter your payment card information in a more daring attempt at fraud.