Zscaler sounds alarm over surging mobile, IoT and OT cyber threats

This is one of the headline findings in a report by enterprise cybersecurity specialist Zscaler, which highlights the increasing frequency and sophistication of attacks on mobile, IoT and operational technology (OT) systems.

According to its latest ThreatLabz report, there was a 111 percent increase in mobile spyware between June 2023 and May 2024, and a 29 percent increase in banking malware. Worryingly, it claims "the majority" of banking malware is able to bypass multifactor authentication (MFA) systems.

One particularly pervasive example is Anatsa, an Android banking malware that distributes malware via PDF attachments and QR codes. It is known to have targeted at least 650 financial institutions, duping victims into unwittingly sharing sensitive information.

During the period covered by the report, Zscaler said the number of malicious IoT transactions it blocked went up by 45 percent year-on-year – it also detected a 12 percent increase in the number of attempts to deliver malware to IoT devices.

This tallies with Nokia's recently-published Threat Intelligence Report, which found that unsecure IoT devices are increasingly being used to coordinate distributed denial of service (DDoS) attacks against telco networks.

When it comes to OT devices, Zscaler notes that they are rapidly being integrated into enterprise networks, exposing them to potential attacks. Its analysis of large-scale OT deployments found that at least 50 percent of OT systems use end-of-life operating systems, many of which have known security vulnerabilities.

In terms of industry sectors, manufacturing experienced the highest volume of IoT attacks, accounting for 36.9 percent of the total, followed by transportation at 14.2 percent (see chart).

On a geographic basis, the US was by far the top target for IoT attacks, accounting for 81 percent of them. Meanwhile, India was the global capital of mobile cyberattacks, accounting for 28 percent, followed by the US (27 percent), Canada (15 percent), South Africa (6 percent), and the Netherlands (5 percent).

As with most of these cyber threat reports, the overriding advice for enterprises is to remain vigilant at all times, and keep firmware, operating systems and security software up to date with the latest patches.

For its part, Zscaler pushes the idea of zero trust – keeping devices, connectivity and security policies as locked down as possible without limiting productivity.

"Cybercriminals are increasingly targeting legacy exposed assets which often act as a beachhead to IoT and OT environments, resulting in data breaches and ransomware attacks," said Deepen Desai, chief security officer at Zscaler. "Mobile malware and AI-driven vishing (voice phishing) attacks adds to that list, making it critical for CISOs and CIOs to prioritise an AI powered zero trust solution to shut down attack vectors of all kinds, safeguarding against these attacks."