PRN: Graphite Software Finds Malware in 32% of Mobile Banking and Payment Apps in China

22/feb/2016 09.01.01 PR Newswire Turismo Contatta l'autore

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Graphite Software Finds Malware in 32% of Mobile Banking and Payment Apps in China

 
[22-February-2016]
 

Graphite's Secure Banking Space ensures banking apps are protected from malware, but 32% of apps drawn from Chinese app stores and banking websites include malware

BARCELONA, Spain, Feb. 22, 2016 /PRNewswire/ -- Mobile World Congress -- Graphite Software operates the Secure Banking App Store found on the Coolpad Tip Top Pro and the Tip Top Max devices. The app store provides trusted and virus scanned banking and productivity apps.  Alarmingly, in the process of analyzing each app, Graphite Software discovered that 32% of the apps (drawn from recognized app stores and bank websites) were infected with malware.

Photo - http://photos.prnewswire.com/prnh/20160219/335424

"It was not our intention to make a discovery of this magnitude," said Alec Main, CEO of Graphite Software. "Our premise was that isolating banking apps would protect users from malware, identity theft and increase mobile banking adoption. We didn't think the banking apps were part of the problem."

The Secure Banking App Store is part of a secure virtual phone called the Fengshen or Private Space, which is a controlled area on the phone for mobile banking, payments and dual WeChat that is isolated from games and other sources of malware unintentionally downloaded by the user. In the first three months of availability, more than 100,000 Chinese consumers are using the Secure Banking Space.

In a recent study conducted in China, 68% of consumers do not use mobile banking and 63% cite security as their primary reason. Further, only 13% of Chinese enterprises use mobile banking with 44% listing security as the reason not to.

Consumers have shown their appreciation for the privacy and security of the Private Space. The only request is for apps that have not passed the stringent malware scanning conducted by Graphite. "Of course, we cannot allow viruses into the Private Space via our app store," said Main. "To address the issue, we have created a developer program and posted a list of the apps that are available in the store." For details on Secure Spaces, to join the Space Developer Program and for a listing of the verified malware-free Chinese banking apps, please visit: http://www.securespaces.com/WP2015/index.php/secure-banking-space/

About Graphite Software's Secure Spaces

Secure Spaces is an Android virtualization platform that enables multiple virtual devices or "Spaces" to co-exist on a single device - such as a Personal Space, a Kids Space, a Work Space and a Secure Banking Space â€�“ with strong isolation between the Spaces.  This addresses not only fundamental Android security and privacy issues but it also enables Spaces to provide different user experiences in terms of apps, wallpapers, launchers and unique Space security settings, which leads to new forms of app discovery and distribution.

For more information on Secure Spaces, please visit www.securespaces.com  

For more information on Graphite Software, please visit www.graphitesoftware.com

Media Contact:
Jon Teel
Gutenberg Communications
408-603-7772 / jon@gutenbergpr.com

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