Category Archives: Banking & Finance

Gozi strikes again, targeting banks, cryptocurrency and more

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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 its advanced capabilities. Over time, Gozi underwent a significant transformation and became associated with other […]

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The rise of malicious Chrome extensions targeting Latin America

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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 […]

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

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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 […]

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How Fraudsters Redefine Mobile Banking Account Takeovers

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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. […]

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How the ZeuS Trojan Info Stealer Changed Cybersecurity

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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 […]

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2022 Industry Threat Recap: Finance and Insurance

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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 Shakespeare tells us, past is prologue, this sector will likely remain a target in 2023. […]

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How to Spot a Nefarious Cryptocurrency Platform

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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 gets sanctioned, you may instantly lose access to all your funds. What exchanges or platforms […]

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Kronos Malware Reemerges with Increased Functionality

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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 Kronos emerged in 2014 and was reportedly sold on the darknet for approximately $7,000. Kronos […]

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Why Cybersecurity Risk Assessment Matters in the Banking Industry

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When customers put money in a bank, they need to trust it will stay there. Because of the high stakes involved for the customer, such as financial loss, and how long it takes to resolve fraud and potential identity theft, customers are sensitive to the security of the bank as well as fraud prevention measures. […]

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Cost of a Data Breach: Banking and Finance

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The importance of cybersecurity has touched almost every industry. Beyond that, robust cybersecurity is table stakes for several sectors, particularly health care and the banking and finance industry. Not only is financial data at risk, but so is customer trust. In banking and finance, trust means everything.  Yet, consumers are hesitant to share their confidential […]

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