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Online Banking Trojan - Industry News Wrap-up - ActivIdentity Blog

Oct 11, 2011 12:25pm | 0 Comment

In this week's industry news wrap-up, we'll take a look at attacks on encrypted data, an interview with the BITS and a new online banking Trojan. Here are the stories that caught our attention:

Hackers Crack Internet Encryption: Should You Be Worried?
As Philip Hoyer referenced in a recent blog post, transactions using Transport Layer Security (TLS) 1.0 are no longer safe. TLS 1.0, the Web standard data encryption, is used as part of HTTPS encryption but is vulnerable to attack, as demonstrated by the BEAST exploit. Alex Wawro warns Web surfers to be wary of the information they choose to share online, change passwords often and never click on links or open emails from unknown or untrusted sources.

'Well organized, sophisticated, fast' cybercriminals scare US banks
The U.S. financial industry's IT policy arm, known as BITS, has a new leader who is an expert in email security and authentication. With the increasing amount of new technologies, including social networking, mobile and cloud computing, Paul Smocer is taking the lead on developing new strategies to protect financial service firms and consumers from various types of attacks. In this interview, Smocer is quoted as saying "If you're focused on the ultimate protection of both your organization and your customers, that gives you the focus to continually try to strengthen the environment."

SpyEye Trojan Targets Online Banking Security Systems
Online banking security is under attack by a newly discovered culprit: the SpyEye Trojan, a well-known malware program. This new attack allows hackers to change the victim’s mobile phone number within an online bank account, which reroutes text messages to the criminal’s phone. Researchers claim that the only way to defeat this type of attack is to employ endpoint security that blocks man-in-the-browser-injection (MITB) techniques.

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