A virus infecting more than 1 million cell phone users in China is costing users a combined 2 million yuan ($300,000) per day, according to InformationWeek.
ShanghaiDaily.com explains how the virus works:
The ‘zombie’ virus, hidden in a bogus anti-virus application, can send the phone user’s SIM card information to hackers, who then remotely control the phone to send URL links, usually pay-per-click ads, in text messages to contacts in the user’s address book.
Some of the links infect a user’s phone, while other dispatch messages to premium-rate phone numbers.
IT Business Edge blogger Sue Marquette Poremba warns that mobile phone security is a growing concern:
with the increasing numbers of those downloading apps and the increasing app store options, there is growing security concern. The bad guys see the opportunities in creating and selling malicious apps …