Business

Banking data theft attacks on smartphones triple in 2024, Kaspersky reports

Published

11 months ago

2025/03/9

The number of Trojan banker attacks on smartphones surged by 196% in 2024 compared to the previous year, according to a Kaspersky report “The mobile malware threat landscape in 2024” released at Mobile World Congress 2025 in Barcelona. Cybercriminals are shifting tactics, relying on mass malware distribution to steal banking credentials. Over the past year, Kaspersky detected more than 33.3 million attacks on smartphone users globally, involving various types of malware and unwanted software.

The number of Trojan banker attacks on Android smartphones increased from 420,000 in 2023 to 1,242,000 in 2024. Trojan banker malware is designed to steal user credentials for online banking, e-payment services and credit card systems.

Cybercriminals trick victims into downloading Trojan bankers by spreading links via SMS or messaging apps, as well as through malicious attachments in messengers, and by directing users to malicious webpages. They can even send messages from a hacked contact’s account, making the fraud appear more trustworthy. To deceive users, attackers often exploit trending news and hype topics to create a sense of urgency and lower victims’ guard.

“Scammers have started to scale down their efforts to create unique malware packages, focusing instead on distributing the same files to as many victims as possible. It is more important than ever to be cyber-literate and educate your loved ones – from children to the elderly – because no one is completely safe from well-crafted scams and psychological tricks designed to steal banking data,” says Anton Kivva, a security expert at Kaspersky.

Although Trojan bankers are the fastest-growing type of malware, they rank fourth overall in terms of the share of attacked users at 6%. The most widespread category remains AdWare, accounting for 57% of attacked users, followed by general Trojans (25%) and RiskTools (12%). The ranking includes malware, adware and unwanted software.

In 2024, cybercriminals launched an average of 2.8 million malware, adware, and unwanted software attacks on mobile devices each month. Over the year, Kaspersky products blocked a total of 33.3 million attacks.

In 2024, Fakemoney, a group of scam apps designed for fake investments and payouts, was the most active threat. Another major concern was modified versions of WhatsApp that contained the Triada-type Trojan – a malware that can download and execute additional malicious or adware modules, for example, to display advertisements or perform other unwanted actions. These unofficial WhatsApp mods ranked third in activity, just behind a general category of cloud-based generic threats.

Learn more about the mobile malware threat landscape in 2024 on Securelist. To protect yourself from mobile threats, Kaspersky shares the following recommendations.

Downloading apps from official stores like the Apple App Store and Google Play is not always risk-free. Kaspersky recently discovered SparkCat, the first screenshot-stealing malware to bypass the App Store’s security. The malware was also found on Google Play, with a total of 20 infected apps across both platforms, proving that these stores are not 100% foolproof. To stay safe, always check app reviews and download numbers when possible, use only links from official websites, and install reliable security software, like Kaspersky Premium, that can detect and block malicious activity if an app turns out to be fraudulent.

Check the permissions of apps that you use and think carefully before permitting an app, especially when it comes to high-risk permissions such as Accessibility Services. For example, the only permission that a flashlight app needs is the flashlight (which doesn’t even involve camera access). A good piece of advice is to update your operating system and important apps as updates become available. Many safety issues can be solved by installing updated versions of software.

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Business

A Historic First: Sri Lanka’s capital market leaders bring investor forum to Saudi Arabia

Published

20 hours ago

2026/02/6

Thilina Walpola

Key dignitaries at the Saudi investor forum

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE), in association with the Embassy of Sri Lanka to the Kingdom of Saudi Arabia, successfully convened an investor forum on Saturday 24th January 2026 at the Radisson Blu Hotel, Riyadh Convention & Exhibition Center. Alongside the forum, the SEC and CSE facilitated a meeting with the Public Investment Fund (PIF) which is Saudi Arabia’s main sovereign wealth fund.

The forum was organized to engage directly with the vibrant Sri Lankan expatriate community in the Kingdom and international investors, highlighting compelling opportunities within Sri Lanka’s capital market following the country’s successful exit from sovereign default and restoration of macroeconomic stability.

The forum was marked by the presence of several senior level policy officials, market leaders and market regulators including; Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL); Chathuranga Abeysinghe, Deputy Minister of Industry and Entrepreneurship Development; Ameer Ajwad Ambassador of Sri Lanka to the Kingdom of Saudi Arabia.; Senior Prof D.B.P.H. Dissabandara, Chairman of the SEC; Ray Abeywardena, Director of CSE; and Dr. Naveen Gunawardane, Co-Founder and Managing Director of Lynear Wealth Management.

In his welcome address, Ameer Ajwad stated, that a significant opportunity remains in broadening public participation in the capital market of Sri Lanka. As financial literacy and investment awareness among potential investors are limited, the investor forum would serve to bridge the knowledge gap. The forum offered an excellent opportunity for first-time investors, overseas investors, and those seeking to enhance their knowledge, to learn how to invest prudently, manage risk, and build wealth with discipline and confidence. Ambassador invited participants to make full use of the presence of high-level authorities from Sri Lanka’s key financial institutions, such as the Central Bank of Sri Lanka, the SEC, and the CSE, and to explore investment opportunities in Sri Lanka’s capital market, not only as a pathway to financial growth but also as a meaningful contribution to Sri Lanka’s resilience and long-term prosperity.

Business

CIC Holdings’ 9MFY26 revenue reaches Rs.70 bn

Published

20 hours ago

2026/02/6

Thilina Walpola

Agriculture-rich diversified conglomerate CIC Holdings PLC (CSE: CIC) recorded a consolidated revenue of Rs. 70.28 billion for the nine months ended 31 December 2025 (9MFY26), reflecting an increase of 8.69% YoY compared to the corresponding period of the previous year.

The Group’s gross profit increased by 10.11% to Rs. 18.42 billion, with the gross profit margin for the period under review improving to approximately 26%, supported by disciplined pricing and product mix optimisation. Profit after tax (PAT) increased to Rs. 5.97 billion from Rs. 5.70 billion in the corresponding period of the previous year, despite losses incurred in parts of the Group’s agri operations following the impact of Cyclone Ditwah, which disrupted cultivation activity during the Maha season.

The Group’s Crop Solutions sector remained the largest contributor to consolidated revenue, accounting for approximately 44.7% of total revenue, followed by Livestock Solutions at 21% and Health & Personal Care at 20.18%. The remaining sectors, Industrial Solutions and Agri Produce, contributed 8.6% and 6.4% to Group turnover respectively. Health and Personal Care , particularly export-driven product lines, recorded improved performance during the period, alongside continued growth in feeds, poultry, and veterinary care solutions, which supported the Group’s overall operating results.

Despite cyclone-related disruption to cultivation cycles, the Group delivered a strong operating performance, with EBITDA and operating profit (EBIT) both recording year-on-year growth. Operating profit (EBIT) closed at Rs. 9.67 billion, compared to Rs. 8.62 billion in the corresponding period of the previous year, reflecting the strength of the Group’s diversified portfolio and disciplined cost management.

During the period in review, key Group businesses across the five industry sectors, namely Crop Solutions, Agri Produce, Livestock Solutions, Industrial Solutions, and Health & Personal Care, continued to perform resiliently. Crop Solutions revenue increased from Rs. 28.06 billion to Rs. 32.32 billion, while Livestock Solutions revenue grew from Rs. 13.35 billion to Rs. 14.60 billion. Health & Personal Care revenue improved from Rs. 14.29 billion to Rs. 14.46 billion, supported by herbal health product exports and steady domestic demand. Revenue from Agri Produce increased from Rs. 4.35 billion to Rs. 4.64 billion, while Industrial Solutions revenue rose from Rs. 6.07 billion to Rs. 6.28 billion.

Commenting on the performance, CIC Holdings Group CEO Aroshan Seresinhe said, “Despite the disruption caused by Cyclone Ditwah to agricultural activity during the Maha season, the Group remained focused on supporting farming communities through well clean-up operations, field renovation, and the restoration of cultivation activity.

Business

CSE regains some of its bullish verve as turnover hits Rs.11 billion

Published

20 hours ago

2026/02/6

Thilina Walpola

CSE trading reflected a bullish trend yesterday due to positive quarterly corporate earnings coupled with lower Treasury Bill yields, market analysts said.

Further, institutional participation contributed more than 50 percent to the day’s turnover.

Amid those developments both indices moved upwards. The All Share Price Index went up by 63.67 points, while the S and P SL20 rose by 12.58 points.

Turnover stood at Rs 11.1 billion with10 crossings. The top seven crossings were: JKH 189.5 million shares crossed to the tune of Rs 4.2 billion; its shares traded at Rs 22.70, HNB 3.5 million shares crossed for Rs 1.48 billion; its shares traded at Rs 422, Hemas Holdings 11 million shares crossed for Rs 376.2 million; its shares traded at Rs 34 20, Commercial Bank 1.5 million shares crossed for Rs 336.8 million; its shares traded at Rs 224.50, Sampath Bank 600,000 shares crossed for Rs 93.6 million; its shares sold at Rs 156, Laugfs Gas 868,000 shares crossed for Rs 51.6 million; its shares sold at Rs 71 and Sierra Cables 1 million shares crossed for Rs 36.7 million; its shares sold at Rs 36.70.

In the retail market top seven companies that mainly contributed to the turnover were; Ceylon Land Equity Rs 385 million (20 million shares traded), Commercial Bank Rs 373.9 million (1.7 million shares traded), Luminex Rs 247.2 million (26.7 million shares traded), Colombo Dockyard Rs 152 million (one million shares traded), TJ Lanka Rs 152 million (four million shares traded), Easter Merchants Rs 142 million (8.7 million shares traded) and RIL Properties Rs 116.9 million. During the day 441.3 million share volumes changed hands in 44406 transactions.

It is said that manufacturing sector counters, especially JKH, led the market while the banking sector also performed well, especially HNB and Sampath Bank. Further, the capital goods sector too performed well.Yesterday the Central Bank’s US dollar buying rate was Rs 305.78 and selling rate Rs 313.32.

By Hiran H Senewiratne