In the News
In Android Malware Steals from PayPal Accounts, Kacy Zurkus at InfoSecurity Magazine discusses a disguised battery-saving app available on Android devices which in reality is malware infested and has been able to steal money from users of the PayPal app. Zurkus explains that the application itself makes its icon disappear, so users do not know it is there potentially causing damage to their finances. Zurkus claims that enabling two-factor authentication on the PayPal app did not stop the destruction that the malware was capable of creating.
Our Take
Malware infested applications and software are becoming more and more common in today’s day and age. Consumers typically have tens of apps on each of their devices many of which may not serve an essential purpose. While it is fine to download apps and content that are not essential or the most popular on the market, downloading lesser known applications leaves you at risk for potentially allowing damaging software to plague your devices. Make a plan to research all apps before you download them and check on your settings often to see which apps you use and which apps you may not need. By keeping only apps on your devices that you utilize regularly, you can prevent yourself from falling prey to malware infested programs.
Recommendations
How can you protect your personal and financial information while using digital payment platforms?
- Understand the risks of putting your personal information into the world, and only share what you have to
- Always research application to verify that they are legitimate before downloading them
- Don’t reuse your account passwords, and take advantage of multi-factor authentication where possible.
- Check your email, financial accounts, and credit reports regularly for abnormal activities