Here is the latest malware scam. Cyber criminals are sending out phishing emails that appear to come from your bank and include a link to download a new banking app on your phone. The email notifies you that for the app to work, you will have to give it administrative privileges. When you download the app, everything works fine. You can make transactions just as you did with your old app.  However, after after you have completed several transactions, your phone will not recognize your unlock password. While you are distracted with your locked phone, the criminals are busy emptying your bank accounts using all the information that you entered earlier into their fake app.

Sound scary? It is. How do you protect yourself? Easy, don’t download apps from unsolicited emails. Only download apps from reputable sources such as iTunes, the Google Play Store or vendors/banks legitimate websites. When downloading from a store, make sure you check reviews before you download. Safe apps have millions of downloads and good reviews.

What do you do if you become a victim? Call your bank immediately and do a factory reset on your phone.