Moscow-based cyber security provider, Kaspersky detected an Android Malware FakeToken which is creating a serious security threat to all the users who are registered in Android cab-hailing applications by stealing their information, calls, and texts.

Kaspersky Lab is a multinational anti-virus and cyber security provider in Russia. This week, Kaspersky founded a new Android malware called FakeToken. In its blog Kaspersky mentioned, Faketoken has been there for one year and it is modified with the time from creating small nuisances in the banking industry to a serious security threat.

The lab reports that, FakeToken is capable of intercepting phone SMS, recording calls, stealing information from many apps including mobile banking apps once its affect the Android device. To the surprise, the user will never know the malware is active on your phone.

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What can FakeToken do?

FakeToken has a shortcut icon and starts to monitor all the apps which the user launches. It can gather information from over 2000 apps including Google play store, apps for booking flight tickets, Google pay, Taxis and hotel rooms.

The FakeToken malware has live tracking of applications, and when the user runs a particular app, it replaces the primary user interface with fake one where the user gives their banking information.

The malware can steal any incoming SMS containing Mobile Transaction Authentication Numbers (mTANs), which are created by the bank and then sent to users for validating the online transaction.

On execution, the malware can steal any SMS and send them to command- and-control servers where hackers can use them to gain access.

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Viktor Chebyshev, a security expert at Kaspersky Lab, said, “The banking industry is already familiar with fraud schemes and tricks, and its previous response involved the implementation of safety technologies in apps that significantly reduced the risk of theft of critical financial data.” As per Kaspersky lab, the new version of FakeToken is mainly targeting Russian users, but the malware attacks can increase globally in future.

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