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Mobile payments to reach $1.3 trillion

Dubai, June 2, 2013

Mobile payments have been predicted to reach $1.3 trillion annually by 2017, while cyber threat to user data is also expected to increase, according to a report.

Cybercriminals have broadened their means of infection by targeting mobile users. The popularity of web browsing via mobile devices creates an opportunity for cybercriminals to expand their target base.  Today’s web threats are no longer limited to clicking malicious links on PCs. Smartphones now face the same kinds of threat, said the report.

Through the use of malicious URLs, cybercriminals are able to infiltrate mobile devices. Trend Micro, a cloud security provider, points out the two motivations cybercriminals have for using them - malicious URLs make launching online attacks easier and it allows them to cover a wide target area comprising Internet-ready mobile devices.

Attack scenarios often involve social engineering techniques designed to trick mobile device users into clicking malicious URLs and downloading malicious Android application package (APK) files. Once these files are in place, the mobile device's security is compromised, the report said.

Malicious URLs are used by cybercriminals as a way to spread mobile malware. They can also be used to infiltrate a device and foster outbound communication, it said.

“In 2013, IT managers here will have to deal with the highest level of targeted attacks the region has ever witnessed.  Today’s attacks are financially motivated, and we are here to help our customers better protect themselves,” said Ihab Moawad, vice president Trend Micro Middle East, Africa and Mediterranean. - TradeArabia News Service




Tags: Trend Micro | Mobile payments | Cyber threat | Cybercriminal |

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