Mobile payment malware infections are on the rise, warns Cheetah Mobile

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Mobile payment malware infection rates are on the rise globally, warns the Cheetah Mobile June Security Report.

The number of daily infected users worldwide climbed from below 12,000 in May to more than 16,000 at the end of June. In the U.S., infected users totaled 1,854 in June compared with 1,311 in March, according to Cheetah data.

The mobile payment malware infection rate in the U.S. pales in comparison to some other countries, such as Vietnam with 61,366 infected users, Russia with 20,476 infected users, and Taiwan with 19,667 infected users, all in June.

Android users, in particular, are taking the brunt of the infections. The number of daily Android users infected by mobile payment malware jumped to nearly 17,000 from 11,000 between May and June of this year.

Hackers use mobile payment malware to steal money by hijacking personal information and spoofing bank sites and apps to trick users into sharing personal data.

A leading brand of mobile payment malware is Simplelocker, which is a form of Cryptolocker with 40 variants. "Simplelocker disguises itself as a media player on high-traffic websites. Once downloaded, it encrypts all files on the SD memory card and is extremely difficult to remove," explains Cheetah Mobile.

Mobile payment malware spreads through the infected user's contact list, enabling to spread quickly over a large area, Cheetah Mobile explains.

For more:
- check out Cheetah Mobile's June mobile security report

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