Mobile banking has become increasingly convenient, but it has also attracted the attention of cybercriminals. A recent report by Group-IB, a cybersecurity company, has revealed a new level of sophistication in mobile banking malware attacks, with hackers using deepfakes to bypass security measures.

The report highlights the activities of a Chinese-speaking cybercrime group called GoldFactory, which is behind the development of several advanced banking trojans, including GoldPickaxe. This malware is capable of stealing identity documents, facial recognition data, and SMS messages from both iOS and Android devices.

One of the most concerning findings is the use of deepfakes in GoldPickaxe. The malware can record facial videos of victims and then use deepfakes to create realistic impersonations that can be used to bypass facial recognition security measures implemented by some banks.

This development highlights the growing threat of deepfakes, which are becoming increasingly sophisticated and difficult to detect. It is important for mobile banking users to be aware of this new threat and to take steps to protect themselves, such as:

• Being cautious of unsolicited messages and links, even if they appear to come from a legitimate source.
• Never sharing personal information or financial details with anyone over the phone or text message.
• Using strong passwords and enabling two-factor authentication for all your online accounts.
• Keeping your mobile device software up to date.

By following these tips, mobile banking users can help to protect themselves from falling victim to these sophisticated malware attacks.

#cybersecurity #mobilebanking #deepfakes #malware #GoldPickaxe

Jerry Swartz

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