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Malicious software has leapt from PCs to cell phones, with Android Malware rapidly rising. According to Juniper’s annual Malicious Mobile Threats Report, consumer mobile devices are exposed to a record number of security threats with the number of malware-laden apps available for Android devices jumping to an enormous 472 percent since July 2011.

The mobile security group attributed the problem to the lack of a review process, the relative ease of making a developer account anonymous and the mere $25 fee required to begin posting applications.

“The main reason for the malware epidemic on Android is because of different approaches that Apple and Google take to police their application stores,” Juniper explains. “Android’s open applications store model, which the lacks code signing and an application review process that Apple requires, makes it easy for attackers to distribute their malware. There is still no upfront review process in the official Android Market that offers even the hint of a challenge to malware writers that their investment in coding malware will be for naught. Until there comes a time that someone figures out a tried and true way to get malicious applications into the App Store, Android will remain the target of mobile malware writers around the world.”

Mobile malware can come from just about any vector you could think of. It lurks in application stores (especially third-party stores), text messages, emails, websites, search results and images. Some malware can snoop your device if you are on an insecure public Wi-Fi channel.

In addition to stealing personal data, sending texts, and making calls to premium numbers, mobile malware is also targeting banking services that send one-time passwords and confirmation codes to mobile phones. An infected app released into the Android Market can infect several thousand users’ phones before anyone discovers the presence of the malware.

Courtesy of: BullGuard.com