Security in Banking and Finance - Security Intelligence

Virtual credit card fraud: An old scam reinvented

3 min read - In today’s rapidly evolving financial landscape, as banks continue to broaden their range of services and embrace innovative technologies, they find themselves at the forefront of a dual-edged sword. While these advancements promise greater convenience and accessibility for customers, they…

August 30, 2023

Cost of a data breach 2023: Financial industry impacts

3 min read - According to the IBM Cost of a Data Breach Report 2023, the global average cost of a data breach in 2023 was $4.45 million, 15% more than in 2020. In response, 51% of organizations plan to increase cybersecurity spending this…

August 17, 2023

Gozi strikes again, targeting banks, cryptocurrency and more

3 min read - In the world of cybercrime, malware plays a prominent role. One such malware, Gozi, emerged in 2006 as Gozi CRM, also known as CRM or Papras. Initially offered as a crime-as-a-service (CaaS) platform called 76Service, Gozi quickly gained notoriety for…

The rise of malicious Chrome extensions targeting Latin America

9 min read - This post was made possible through the research contributions provided by Amir Gendler and Michael Gal. In its latest research, IBM Security Lab has observed a noticeable increase in campaigns related to malicious Chrome extensions, targeting Latin America with a focus on financial institutions, booking sites, and instant messaging. This trend is particularly concerning considering Chrome is one of the most widely used web browsers globally, with a market share of over 80% using the Chromium engine. As such, malicious…

BlotchyQuasar: X-Force Hive0129 targeting financial institutions in LATAM with a custom banking trojan

16 min read - In late April through May 2023, IBM Security X-Force found several phishing emails leading to packed executable files delivering malware we have named BlotchyQuasar, likely developed by a group X-Force tracks as Hive0129. BlotchyQuasar is hardcoded to collect credentials from multiple Latin American-based banking applications and websites used within public and private environments. Similar operations conducted in late 2022 have also been noted delivering an earlier variant of this modified QuasarRAT by likely Spanish-speaking actors. BlotchyQuasar, which X-Force describes as…

How fraudsters redefine mobile banking account takeovers

3 min read - Fraudsters are constantly finding new ways to exploit vulnerabilities in the banking system, and one of the latest tactics involves stealing credit card information via mobile banking apps. This type of attack has been seen in different variations in Spain and North America and was reported for the first time at the beginning of 2023. As fraudsters use stolen credentials to commit e-commerce fraud, here's what banks and customers must keep in mind to stay safe. The modus operandi Step 1:…

How the ZeuS Trojan info stealer changed cybersecurity

4 min read - Information stealer malware is a type of malicious software designed to collect sensitive information from a victim’s computer. Also known as info stealers, data stealers or data-stealing malware, this software is true to its name: after infecting a computer or device, it’s highly adept at exfiltrating login credentials, financial information and personal data. Info stealers typically operate by monitoring keyboard input, capturing screenshots and intercepting network traffic. They may also search a hard drive for specific types of data. The…

How the ZeuS Trojan info stealer changed cybersecurity

2022 industry threat recap: Finance and insurance

5 min read - The finance and insurance sector proved a top target for cybersecurity threats in 2022. The IBM Security X-Force Threat Intelligence Index 2023 found this sector ranked as the second most attacked, with 18.9% of X-Force incident response cases. If, as…

How to spot a nefarious cryptocurrency platform

4 min read - Do you ever wonder if your cryptocurrency platform cashes in ransomware payments? Maybe not, but it might be worth investigating. Bitcoin-associated ransomware continues to plague companies, government agencies and individuals with no signs of letting up. And if your platform…

Kronos malware reemerges with increased functionality

6 min read - The evolution of Kronos malware The Kronos malware is believed to have originated from the leaked source code of the Zeus malware, which was sold on the Russian underground in 2011. Kronos continued to evolve and a new variant of…

Security Intelligence

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today’s post 2

Virtual credit card fraud: An old scam reinvented

Cost of a data breach 2023: Financial industry impacts

Gozi strikes again, targeting banks, cryptocurrency and more

The rise of malicious Chrome extensions targeting Latin America

BlotchyQuasar: X-Force Hive0129 targeting financial institutions in LATAM with a custom banking trojan

How fraudsters redefine mobile banking account takeovers

How the ZeuS Trojan info stealer changed cybersecurity

How the ZeuS Trojan info stealer changed cybersecurity

2022 industry threat recap: Finance and insurance

How to spot a nefarious cryptocurrency platform

Kronos malware reemerges with increased functionality

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