India, July 21 -- The rise of mobile banking has transformed the way businesses and customers interact, offering increased convenience and efficiency. However, this shift has also opened new doors for cybercriminals, particularly on the Android platform, which dominates the global smartphone market. According to the ESET Threat Report H2 2024, financial threats targeting banking apps and cryptocurrency wallets on Android grew by 20% compared to the previous period.

Fortunately, large financial institutions, such as banks, are equipped with significant resources, enabling them to invest in and implement comprehensive cybersecurity measures to protect their systems and customers. However, smaller banks, wealth management firms or insurance...