App Threat Report: FjordPhantom malware defense in banking apps

Understand FjordPhantom malware's virtualization techniques. Learn how leading Android banking apps fare against this threat and improve your app's defenses.

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App Threat Report

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

In late November 2023, 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.

FjordPhantom defense in banking apps

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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Highlights from the report

With test insights from over 100 globally popular banking apps, this App Threat Report reveals startling statistics about their vulnerabilities to virtualization-based attacks. Find out how FjordPhantom operates, why traditional app defenses aren’t enough, and what you can do to protect your banking apps from this threat.
account_balance
113
Banking apps tested
pest_control
80.5%
Susceptible to FjordPhantom
smartphone
Virtualization
Key technique used
file_copy
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