"Hackers Use Mobile Emulators to Steal Millions"

IBM Trusteer researchers report that hackers are using mobile emulators to spoof banking customers' mobile devices in order to steal millions of dollars from online banking accounts belonging to customers located in the U.S. and Europe. Mobile emulators are virtual devices that can mimic the functionality of real mobile devices. Developers often use them to test applications and features on various types of devices. According to IBM, attackers used 20 mobile emulators to mimic more than 16,000 compromised devices. The attackers were able to access thousands of bank accounts and steal millions of dollars within days using the spoofed devices. Each spoofed device was discarded and replaced by another spoofed device to restart the attack cycle after it successfully compromised an account. IBM researchers found that in some cases, attackers made it look like a customer was accessing an account from a new device to further evade security protections implemented by banks. This article continues to discuss how hackers used mobile emulators to steal millions of dollars from banks in the U.S. and Europe. 

GovInfoSecurity reports "Hackers Use Mobile Emulators to Steal Millions"