Mobile app malware not a threat to customers, says ICICI Bank 

Source: The Hitavada      Date: 13 Jan 2018 09:45:35


Jan 12,


LARGEST private sector lender ICICI Bank on Friday virtually acknowledged the presence of a malware in its mobile banking application, but underplayed its impact on its customers.“Whatever we have seen, the malware seems to be not very significant,” bank’s Chief Technology and Digital Officer B Madhivanan told reporters over a conference call. The admission comes days after Quickheal, a Pune-based cyber security firm, had warned lenders of the presence of a malware in the mobile banking apps running on the popular operating system, Android.

“Anyone who wants to sell their anti-malware kind of products, they have the right to continuously test and bring it in,” Madhivanan said, retorting to the warning from the anti-virus maker last week. According to media reports, Quickheal had spotted a malware that imitates over 200 apps, including some offered by some of domestic banks.

The malware is distributed through a fake flash player app and can ultimately trick the user into sharing his/her login details and password for any of the 232 applications, if they are present on the device. The cyber security firm asked users not to download any apps from third-party stores or links provided in SMSes/emails to keep their credentials safe, according to media reports.