This is a warning to Android users, a new Trojan spyware virus aka Zitmo has been put into place to steal financial data from customers, the ‘Zeus Banking Trojan’ has been disguised as a banking activation application.

This spyware has been played around with to target the Android mobile operating system, senior antivirus analyst and researcher for Fortinet Axelle Apvrille, mentions that it will listen to all incoming SMS messages and after it does this it will forward them to a remote web server, this all happens in the background.

This means that some banks that send the mTANs (mobile transaction authentication numbers), basically meaning that when banking-speak for one-time passwords for authenticating transactions via SMS are at risk, intercepting these passwords, the Zeus-botnet-using criminal gang behind Zitmo can not only create fraudulent money transfers, but they can also verify them.

Zitmo is now what we call new, but this on the Android operating system is new. The user will think that the message received has come via their bank, but afraid to say it is a malware problem where criminals can access your data, this makes this security attack a very clever one indeed.

InformationWeek Says: To help block malware attacks against their customers, new guidelines from the Federal Financial Institutions Examinations Council (FFIEC) recommend that banks consider out-of-band authentication, such as mTANs. But as Zitmo illustrates, however banking regulators revise the guidelines, attackers often find techniques for defeating the new security measures. Android wouldn’t be the only operating system at risk from such automated exploits. Notably, the zero-day PDF vulnerability currently affecting the iPhone, iPad, and other iOS devices could be used to not only jailbreak a device, but also install malicious applications.

We here at Phones Review have not heard about this, so we are calling out to all Android users if they have come up against this Android Trojan Spyware aka Zitmo. If you have could you please shed some light on it, as this would give other readers an idea what is going on.

If you have any information you wish to share about any security issues such as, Malware, Trojans, Hacks, Exploits etc, please do let us know in the commenting area below. Anything you know about Android users security risk warnings please do share. Thanks