Plain and Simple: Bright Business Insights October 2016 | Page 3

MALWARE THREAT SPREADS TO SMARTPHONES How to Protect Your Phone...and Ultimately Your Data Last year, researchers and IT security experts from ESET, a global IT security company, announced that they had discov- ered a malware application that is designed to encrypt files and change PINs on Android devices in the United States. In return, victims are demanded to pay up to the tune of $500. Only then will hackers provide users with the recovery key. If it continues to spread, this form of malware could result in a staggering number of victims. Once again we are reminded of how important it is to vigilantly protect ourselves against fraudsters who will continue to exploit such weaknesses in our technological infrastructure. According to the digital media analytics company comScore, between the months of December and March 2015, more than 187.5 million people in the U.S. owned smartphones. During that time, Google Android led the pack as the number one smartphone platform with 52.4 percent platform market share. Malware Goes Mobile The malware, called LockerPIN, spreads via third-party ap- plications, which are downloaded by the user to their Android device. Similar to the CryptoLocker and CryptoWall malware that has inundated users over the past several years, LockerPIN spreads malware’s reach to the mobile user. Originally discovered in Ukraine in 2014 the malware has been modified to the point that it is just now making its North Ameri- can debut. Disguised as a system update, the application chang- es the user’s PIN to a random setting without their knowledge. The worst part? The only known recovery solution is to perform a complete factory reset, which will result in the loss of all your data. Don’t wait until your phone is compromised to decide to protect it. Be proactive and take action to protect your phone and your data. by: Tom Jeffries CPA, Principal 212 N. Washington St. Millersburg, OH 44654 [phone] [email protected] Fair Warning It’s only a matter of time before this malware progresses to the point of being able to infect all phones. In the mean- time, there are actions you can take to protect yourself: 1. Never download apps outside of certified app stores. 2. Back up your mobile devices to your computer or to the cloud regularly. 3. Do not grant administrator privileges to apps unless you truly trust them. 4. Stay away from suspicious apps and sites.