App Threat Report: FjordPhantom Malware Defense in Banking Apps

Welcome to our Q4, 2023 App Threat Report, Promon’s quarterly analysis of current topics in mobile application security produced by our Security Research Team.

In late November, Promon uncovered a new malware targeting banks in Southeast Asia, dubbed FjordPhantom. FjordPhantom was particularly insidious, combining social engineering with advanced malware to commit fraud.

To explore the malware defense posture of banking apps, we looked at how over 100 of the world’s most-used banking apps performed against FjordPhantom. Read on to discover the results and their implications.

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Download the report to learn about:

  • Virtualization techniques, and how FjordPhantom and other advanced malware can abuse these to circumvent Android’s security model
  • The results from our real-world testing of how more than 100 of the leading Android banking apps fare against this attack