Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Vblock™ Systems:
Advanced converged infrastructure
increases productivity & lowers costs.

www.vce.com
Network Security
24/7/365 Network Uptime
Average Rating:
Rate this article:  
Online Banking Malware Rapidly Rising
Online Banking Malware Rapidly Rising

By Jennifer LeClaire
November 12, 2013 2:15PM

    Bookmark and Share
Consumers, online retailers and banks should do more this holiday shopping season to protect personal and financial data from being compromised, according to Trend Micro. As more people do their banking online, criminals are quickly developing nefarious new tools, Trend Micro noted in a recent survey.
 



With the holiday shopping season approaching, online retailers are preparing for traffic spikes. But they should also be preparing to beef up security -- and so should banks and Apple users.

That’s because the holiday shopping season tends to see a rise in malware of all types. This year, the issue may be even worse. Trend Micro’s Q3 2013 Security Roundup Report is raising concern about the ongoing proliferation of Apple iOS phishing sites, as well as a sizable uptick in online banking malware.

According to Trend Micro, all this means consumers should be alert and cautious during the holiday shopping season to protect personal and financial data from being compromised. And so should banks and online retailers.

Apple Users Beware

"As consumers gravitate to the convenience of online banking, criminals are developing tools at an exceedingly rapid pace to exploit a general lack of awareness," said JD Sherry, vice president of technology and solutions at Trend Micro.

"In addition, Apple has been traditionally perceived as a safe-haven against threats, but our findings reveal that personal information can be jeopardized as phishing scams that target the platform continue to gain momentum," Sherry said. "This evidence suggests a potential perfect storm looming in the holiday season as busy commercial and consumer users leverage mobile platforms."

After a spike in the second quarter, Apple-related phishing sites have remained steady throughout the third quarter with 4,100 detected in June, 1,900 in August and 2,500 in September. Trend Micro said this raises concerns of potential new targets in the fourth quarter with analysts estimating that Apple will sell 31 million iPhones and 15 million iPads in the period.

Trend Micro researchers also identified more than 200,000 malware infections targeting online banking in the third quarter. Three countries stood out as the most targeted, with the U.S. accounting for 23 percent of online banking malware infections worldwide, followed by Brazil with 16 percent and Japan with 12 percent.

Europe's top countries, Germany and France, each had only 3 percent, which may stem from the region's high degree of multi-factor authentication requirements with online banking transactions. Along with these increases, the level of sophisticated obfuscation techniques used by threat actors has also risen, according to Trend Micro.

Who Is To Blame?

We caught up with Ken Pickering, director of engineering at security firm CORE Security, to get his take on the Trend Micro report. He told us as more and more people do their banking online, attacking the endpoints becomes more and more attractive.

“Meanwhile, endpoint security software obviously isn’t getting the job done, and web browsers like Internet Explorer are plagued with zero days. It has become easier to install malware and more profitable after it is installed, it’s the perfect storm,” he said.

“Who is to blame? Users must be held somewhat accountable. These users should be properly educated around secure procedures for logging into financial applications. But part of the blame must go to the software development community for its failure to provide effective malware protection, and creating software that is easily exploitable and able to attain system level permissions,” Pickering added.
 

Tell Us What You Think
Comment:

Name:

OldGlory13:

Posted: 2013-11-12 @ 7:56pm PT
There are solutions for email and internet security. When the servers are located in the US or Canada they are subject to the US Patriot Act. That means that when the government (NSA, IRS, etc.) requests information on us those companies MUST comply - and all without a search warrant. This is against the US Constitution's 4th Amendment. Check out ForHisGlory.PrivacyAbroad.com for established Swiss-based companies that ARE NOT under US jurisdiction! Let's take back our rights!!



APC has an established a reputation for solid products that virtually pay for themselves upon installation. Who has time to spend worrying about system downtime? APC makes it easy for you to focus on business growth instead of business downtime with reliable data center systems and IT solutions. Learn more here.


 Network Security
1.   Verizon Report Exposes Cyberthreats
2.   How Are Web Sites Post-Heartbleed?
3.   White House Updating Privacy Policy
4.   Target Hackers May Be Tough To Find
5.   Heartbleed Exploit Could Cost Millions


advertisement
How Are Web Sites Post-Heartbleed?
Questions on open source, security.
Average Rating:
Heartbleed Exploit Could Cost Millions
But it could have been prevented.
Average Rating:
Michaels: Nearly 3M Cards Breached
But the hack has been contained.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Verizon Data Breach Report Exposes Top Threats
Beyond Heartbleed, there are cyberthreats vying to take down enterprise networks, corrupt smartphones, and wreak havoc on businesses. Verizon is exposing these threats in a new report.
 
Where Do Web Sites Stand, Post-Heartbleed?
A security firm says the vast majority of Web sites have patched themselves to protect against the Heartbleed bug, but now there are questions raised on the reliability of open-source programs.
 
White House Updating Online Privacy Policy
A new Obama administration privacy policy explains how the government will gather the user data of online visitors to WhiteHouse.gov, mobile apps and social media sites, saying much is in the public domain.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | Small Business | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.