Ransomware is almost always the result of a successful phishing attack. It’s an expensive nightmare for any business.

A new tricky campaign is using well-crafted bank spoofing apps to convince users to “invest” in crypto. The victims source the app from outside the store and then share sensitive information with the actors. The investments go straight into the actors’ wallets, while victims are made to believe they’re holding the tokens.

The real bank worked closely with Zimperium to uncover this campaign while it is still at an early stage, so this publication is to raise awareness and close the income tap for the actors.

The potential for exploitation is wide and deep, including account takeovers, phishing attacks, and banking fraud. The implications range from “simple” scamming attacks and phishing attempts to falling victim to banking fraud and impersonation actors. As for the cryptocurrency assets, this is a blurry area right now.

Oftentimes, the ethical compass of the hackers who perform the breach is what eventually compels them to share the incident with the rest of the world, smashing the stereotype that hunts them while destroying people’s trust in the affected company.

security audit is key. Business network security is an integral part of you and your business. Want more tips? Follow us to learn more about IT security solutions and monitoring. We can help you design a solution to meet your need. Here at ManagedTEK we strive to provide top security solutions. If you have an immediate IT need, you can always reach us at 707.205.3727. ManagedTEK’s goal is to create a plan specifically focused on each business that we serve. Technology made simple.

This discussion appeared on TechNadu.