Brazilian cybercriminals are clearly setting their sights on users of mobile banking, with a huge rise in incidents registered in the country over the last two years. In order to carry out these attacks they are using SMiShing (phishing via SMS) and registering new mobile phish domains created especially for this purpose.
In 2015, mobile banking usage in Brazil reached 11.2 billion transactions, an increase of 138% compared to the 4.7 billion transactions registered in 2014. Mobile banking is now the second most popular channel for accessing a bank account in the country – there are more than 33 million active accounts, according to the Brazilian Federation of Banks. Such numbers and the possibility of cheaply sending SMS messages are very attractive to cybercriminals, who are investing their time and effort to create new attacks.