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Godfather Malware: How to Keep Your Financial Information Secure

The Newest Threat to Banking

As times change and technology evolves, so do the tactics of cybercriminals. The rise of Godfather malware is just one trick that cybercriminals are now using to target banking apps in order to steal your information and your money. Godfather malware tricks users into handing over sensitive personal and financial information by mimicking trusted applications. This malware can steal login credentials, intercept two-factor authentication, and drain financial accounts within seconds. Here is what you need to know to stay protected from this sophisticated cyber scheme.

How Does Godfather Malware Work?

Godfather malware works silently in the background of real applications, so victims often don’t notice until it’s too late. Distributed through unofficial app stores, fake updates, or cloned versions of popular apps, this type of malware masks itself inside functioning applications.  If you’re logging into your mobile banking app, Godfather malware overlays a fake login screen that is identical to the real login screen. You login to your online banking app just as you normally would, unknowingly giving over your account credentials to hackers. Hackers can then monitor your keystrokes, intercept text messages, and disable antivirus software.

This type of malware is very difficult to detect. Even the most tech-savvy users fall victim to Godfather malware because it operates under the radar, and you often won’t see any obvious warning signs. Your phone or display often doesn’t slow down or lag, and everything appears to be normal on the surface – until it’s too late.

How To Protect Yourself

While Godfather malware can be intimidating and often hard to detect, there are several ways that you can protect yourself and your financial information. Always download and update apps from official sources such as Apple App Store or Google Play. Avoid third-party stores and unofficial links, no matter how legitimate they may seem. To protect the security of the apps already installed on your device, update them regularly to patch security vulnerabilities. Be sure to read through all permission requests and system warnings on your device; hackers depend on you to be naïve and give them permissions in order to get your information. Finally, enabling two-factor authentication and using a reputable mobile security app offers a second line of defense against hackers.

Next Steps

Godfather malware is just one example of how cybercriminals are evolving with technology. Don’t be unprepared when it comes to protecting your financial information. Contact your local First State branch if you have questions about how to protect yourself from this scheme. If you believe you may be a victim of Godfather malware, contact your local First State branch immediately. We’re here to help you and your financial information stay protected.