New Breed of Banking Malware Hijacks Text Messages
Source: American Banker - Posted by Alex   
Cryptography Out of band authentication communicating with a customer outside of his mobile banking app to verify his identity or a specific transaction is a generally respected means of deflecting mobile banking fraud. But RSA's Anti-Fraud Command Center on Monday found and reported on a Trojan called Bugat that has been updated to hijack out-of-band authentication codes sent to bank customers via SMS. This doesn't mean out-of-band authentication via text messaging is useless, but it can be compromised using a dated, unsophisticated piece of malware.

Read this full article at American Banker

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