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Banking Apps on Android Phones Are Vulnerable to Risk

The Motley Fool, By Katherine Muniz

Android-based phones make up 99 percent of the mobile devices targeted in cyber attacks, according to prominent technology expert, Eugene Kaspersky, of Kaspersky Lab. The anti-virus software maker claims Android's counterpart Apple has strict controls that do not allow third-party applications, securing iPhones from cyber crime.

The insight Kaspersky shared on January 27 at a cyber-tech conference in Israel addresses the most recent trend in cyber attacks to shift their focus from computers to cellular phones.

The Chernobyl virus, one of the most damaging computer viruses to ever exist, emerged in 1998 and is referenced by Kaspersky as the turning point in the '90s for computer literacy awareness.

As a virus, Chernobyl overwrites critical information on the system drives it infects, as well as overwrites the system BIOS. According to Kaspersky, a virus of similar proportions could soon target cellular phones. Read more.