
San Francisco, California – May 6, 2021 – Lookout, Inc., an integrated endpoint-to-cloud security company, released a report showing that mobile phishing exposure doubled among financial services in 2020 despite a significant increase in mobile device management (MDM) deployment. The Lookout Financial Services Threat Report also uncovered a surge in exposure to malicious and risky applications among the industry’s employees and customers.
The Lookout report also highlights how cyberattackers are deliberately targeting phones, tablets and Chromebooks to increase their odds of finding a vulnerable entry point. A single successful phishing or mobile ransomware attack can give attackers access to proprietary market research, client financials, investment strategies and cash or other liquid assets. These attacks can take the form of mobile phishing, apps containing malware, exploits of app or device vulnerabilities, and using risky networks outside of the traditional office perimeter.
“These findings demonstrate that regardless of whether a device is managed or unmanaged, attackers have equal success in deploying phishing campaigns,” said Gert-Jan Schenk, Chief Revenue Officer, Lookout. “In addition, phishing can be particularly difficult to detect on a mobile device. We inherently trust these devices, which makes us vulnerable to social engineering attacks. Protecting modern endpoints requires a different approach – one that is built from the ground up for mobile and can continuously secure an organizations’ data from endpoint to the cloud.
The report’s findings are sourced from the Lookout Security Graph, which contains behavioral analysis of telemetry data from nearly 200 million mobile devices, 140 million apps and analyzes more than four million new URLs every day. The data analyzed for this report are specific to financial services and insurance organizations.
Download the Lookout Financial Services Threat Report here.
Lookout is a leader in endpoint and cloud security solutions. Our mission is to secure and empower our digital future in a privacy-focused world where mobility and cloud are essential to all we do for work and play. We enable consumers and employees to protect their data, and to securely stay connected without violating their privacy and trust. Lookout is trusted by millions of consumers, the largest enterprises and government agencies, and partners such as AT&T, Verizon, VMware, Vodafone, Microsoft, Google, and Apple. Headquartered in San Francisco, Lookout has offices in Amsterdam, Boston, London, Sydney, Tokyo, Toronto and Washington, D.C. To learn more, visit www.lookout.com and follow Lookout on its blog, LinkedIn, and Twitter.
Contact Lookout PR: press@lookout.com