Reference

Zeltser, L. (September 2011). Social Networking Safety. OUCH! The Monthly Security Awareness Newsletter for Computer Users. Retrieved September 18, 2011 from http://www.securingthehuman.org/newsletters/ouch/issues/OUCH-201109_en.pdf

Reply 3:

The SpyEye Hacking Toolkit ingeniously is being promoted online as an Android application that will guard against exactly what it does, which is steal online logins and passwords. What makes this application so state-of-the-art and unique is that it uses an Android client application on smart phones and other devices running the operating system to transmit data to the command and control (C2) server. The hackers then have the ability to capture logins and passwords and without the user's knowledge, transmit them to the server completely independent of any action taken by the user (Keizer, 2011). While this threat is most predominant in...

As the astute analysis in the post states, it is a very good idea to have malware and spyware applications including Lookout and AVG installed on all smartphone and mobile devices running the Android operating system. The point of making sure software sources are trusted and applications are installed only from legitimate sites is also extremely important to alleviate the potential security risks. Finally the best advice of all, not accessing mobile banking at all from your Android-powered device, is the best deterrent of all.
Reference:

Keizer, G. (2011, September 13). SpyEye hacking kit adds Android infection to bag of tricks. Computerworld. Retrieved from: http://www.computerworld.com/s/article/9219963/SpyEye_hacking_kit_adds_Android_infection_to_bag_of_tricks