Are Banking Trojans on the rise?

Are Banking Trojans on the rise?  

Horace C. White 

Modern Tokyo Times

Banking Trojans increase by 16% in 2018

Moscow-based cybersecurity firm Kaspersky Lab Solutions has raised an alarm over the skyrocketing number of cyberattacks with popular malware, Banking Trojans. According to the cybersecurity company, Banking Trojans attacked about 889,452 users of its anti-phishing software in 2018. In its report, Kaspersky Lab stated that the figure represents a 16% rise from its 2017 statistics. While breaking down the details of the in-depth report, the company noted that there were about 767,000 cyberattacks in 2017.

Why do cyber thieves prefer Banking Trojans?

Banking Trojans are a huge threat for e-transaction subscribers. Also known as bankers, Banking Trojans became popular as a result of data thieves launching on targets with a view of making quick financial gains in secrecy. When the malware is launched on a victim’s computer, it practically hijacks sensitive financial information and data, such as login parameters, e-payments, and online banking history. Afterward, Banking Trojans transfer financial information and data back to these masked data thieves behind the malware. Typical examples of Banking Trojans are SpyEye, Gozi, and Zbot, according to Kaspersky Lab.

Which countries are the victims?

End-users based in Russia, the United States, China, India, Germany, Vietnam, and Italy maintained the topmost positions on the Banking Trojans’ victim list. In its report, Kaspersky Lab revealed that Russia and Germany are homes to 22% and 20% of the entire global victims respectively.

In its statement, Kaspersky Lab further reeled out some interesting facts. Of the three malwares that Kaspersky Lab identified, Zbot and Gozi were the most destructive Banking Trojans to date, accounting for 26% and 20% of malware attacks globally. Similarly, the third Banking Trojan, SpyEye, commands 15.6% of the entire cyber malware attacks, the report says.

The Modern Tokyo Times has also gathered that roughly 25% of the victims of the cyber incursion were mostly staffers of corporations, indicating a degree of consistency over the past three years. The reason behind Banking Trojans targeting companies is the belief that corporations and corporate clients are where real financial information and data lie in which cybercriminals could easily acquire large sums of data and monetary resources in droves, while constantly remaining unknown.

Official Remarks

According to Oleg Kupreev of Kaspersky Lab, the report has made it abundantly clear that the “infamous Banking Trojans” are still wreaking havoc on people and corporations’ finances. The cybersecurity expert stresses that there has been a massive growth spurt in 2018, and will continue in 2019 targeting countries well-known for being tech-savvy. Indicating that no person or corporation is safe from Banking Trojans.

Other Takeaways from the Report

Released in March 2019, the Kaspersky Lab report also highlighted the impact of Android banking malware on a global scale. Kaspersky Lab, which is the brainchild of anti-phishing software package Safe Money technology, reported that about 1,799,891 users around the world encountered Android banking malware in 2018.

Explaining further, the cybersecurity software development company said that three major banking malware groups accounted for 85% of the global attacks. A review of countries where the majority of Android banking virus victims come from shows Russia, South Africa and the United States on the victims’ list. In sum, Banking Trojans are on the rise, and countries that are known for being experts in cybersecurity and proficient in data privacy seem to be the main target.

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