FYI Teddy Njoroge,People Daily This week a set of banking trojans were discovered and identified by ESET researchers, had found their way past Google Play’s security mechanisms, this time targeting a number of Polish banks. Disguised as crypto monitor, a cryptocurrency price tracking app, and StorySaver, a third-party tool for downloading stories from Instagram, the malicious apps can display fake notifications and login forms seemingly coming from legitimate banking applications. Besides delivering the promised functionalities the apps are capable of harvesting credentials entered into the fake forms, as well as intercept text messages to bypass SMS-based 2-factor authentication. This is just an example of some of the malware cases recorded by ESET in 2017. A few high –profile cases impacted millions of individual users while dealing financial blows to major companies. Indeed, it is our hope that the public now has a greater awareness of threats and their severity, but the level of sophistication behind attacks continues to rise. What does this mean for consumers? Data is the new currency with consumers expecting to enjoy software at little or no cost. Vendors are now also in the data-collection business, increasing the cyber risks associated with data privacy. As a mobile first generation, a big chunk of our lives and activities are conducted via the mobile phone and other multiple connected devices. According to technology research firm Gartner, more than 80 percent (352 million) of all mobile devices sold in the last quarter of 2016 ran on the Android platform. With this in mind and noting that as more mobile phones and Internet of Things (IOT) devices connect to the web, the higher the potential for cyberattacks on the back of our increased individual risk profile. But even with this knowledge it is sad to note that many people still do not take their mobile and IOT security with the due importance it deserves. This lackadaisical attitude can be said to also affect the Small and Micro business space, not just in Kenya but across the globe. As hackers and cybercriminals become more sophisticated, it has never been more important to protect your business and personal data with the highest level of security. While it is fair to say that, ransomware and other manner of breaches will tend to focus on the larger enterprises owing to the potential for huge payoffs in credential theft and even ransom payments, perhaps it is time that focus was also brought to bear on the risks posed to the individual by unsecured mobile and IOT devices. The writer is country manager for ESET Kenya. http://www.mediamaxnetwork.co.ke/business/394126/beware-malicious-banking-ap...