Banking applications installed on Android powered smartphones are claimed to be vulnerable to hacking.
Kaspersky Lab chief executive and co-founder Eugene Kaspersky revealed that about 99% of mobile attacks are mainly targeted Android-powered devices.
In addition, there has been a growing shift of cyber attacks to mobile devices from computers, with a rise in cyber attacks via mobile devices mainly due to proper protection, Kaspersky added.
"I expect something really bad to happen to change people's minds and awareness," Kaspersky told Reuters.
"Cyber crime is moving to mobile but people are not aware. It's still not as big as computer crime but it's growing fast.
"The trend is a very dangerous situation."
The security firm also added that it is very complicated to zero in the geographical location of origin of most cyber attacks, while cyber criminals typically converse Chinese, Spanish, Portuguese and Russian.
Last year, the Russian security firm detected a malicious programme that can attack any bank in any country, the Neverquest Trojan banker, which is mainly targeted at online banking users.