F-Se­cure: In­dia is a key tar­get in wal­lets, POS and bank­ing by cy­ber crim­i­nals in 2017

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F-Se­cure re­vealed that post de­mo­niza­tion, In­dia is ex­pected to be a key tar­get in point-of-sales (POS) and bank­ing mal­ware, es­pe­cially mo­bile wal­lets in 2017. The lat­est re­port ti­tled `Threat Land­scape In­dia 2016 & Be­yond’ fur­ther high­lighted that An­droid-based smart­phones are fac­ing the max­i­mum num­ber of cy­ber-at­tacks, post the de­mon­e­ti­za­tion drive. The rise in the num­ber of smart­phone-based cy­ber-at­tacks bur­geoned post the Govern­ment ini­tia­tive an­nounced in Novem­ber last year.

The last quar­ter of 2016 wit­nessed in­creased us­age of on­line/ dig­i­tal pay­ment plat­forms, in­clud­ing plas­tic money and mo­bile wal­lets, ow­ing to the liq­uid­ity crunch. This has led to the rise in point-of-sales (POS) mal­ware and bank­ing mal­ware.

The re­port also pointed out the fact that users in In­dia are more ac­tive on mo­bile de­vices. It is the pre­ferred medium for con­nect­ing to the In­ter­net, in­stead of brows­ing on per­sonal com­put­ers. Post de­mon­e­ti­za­tion, peo­ple have in­creased the use of mo­bile wal­lets in­clud­ing Telco Backed wal­lets, In­de­pen­dent wal­lets, and Bank backed wal­lets, etc. Peo­ple are even keep­ing mul­ti­ple wal­let apps on their phones as dif­fer­ent wal­lets are ac­cepted by var­i­ous sell­ers and stores. Such grow­ing use of mo­bile web and mo­bile wal­let based trans­ac­tions has con­trib­uted to in­creas­ing in­ci­dences of new types of threats. The ma­jor threats that are fac­ing In­dian smart­phone users are Air­push, Dow­gin, FakeApp, SMS­pay and SMSreg.

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