New banking malware threat identified
When it comes to the ongoing struggle against cybercrime, there is no rest for the weary. New forms of malware designed to circumvent current security measures are released on a regular basis. With the emergence of each new threat, the importance of implementing strong security protocols becomes that much clearer. Recent reports suggest a newly discovered malware strain could create headaches for internet users everywhere, but could hit financial institutions especially hard.
Bank Information Security reported that cybersecurity researchers had identified a variant Tinba, a banking Trojan that first appeared last year. The original version monitored online banking sessions, waiting for users to log into their accounts before launching an attack and gaining access to client funds. Institutions across the banking industry implemented expansive layered security protocols in response to the threat, but the new strain avoids bank site securities altogether by creating and redirecting users to a fake web page as soon as they enter a financial institution's URL.
According to PCWorld, this tactic is similar to common phishing attacks except for one crucial difference. When the victim of a Tinba v2 attack attempts to access the bank's site, the legitimate URL appears in their browser's address bar. Financial institutions are urged to update their security measures to detect anomalies in account sessions and login attempts. To enhance all around security and protect against many different varieties of malware attacks, businesses should implement comprehensive defensive protocols. Anti-virus detection and removal as well as data encryption are vital to protecting sensitive information such as bank account records. Encrypted data, both on the server and in-transit, can be virtually unreadable if accessed by cyberthieves.
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