Financial threats

From the early beginnings, using skimmers on ATMs, compromising point of sales systems, or even modifying the hardware of processing devices, Latin America has been a fertile ground for collecting credit and debit cards en masse.

For the last few years, rooting malware has been the biggest threat to Android users. These Trojans are difficult to detect, boast an array of capabilities, and have been very popular among cybercriminals.

This report summarizes a series of Kaspersky Lab reports that between them provide an overview of how the financial threat landscape has evolved over the years. It covers the common phishing threats, along with Windows-based and Android-based financial malware.

Of all the forms of attack against financial institutions around the world, the one that brings traditional crime and cybercrime together the most is the malicious ecosystem that exists around ATM malware. Criminals from different backgrounds work together with a single goal in mind: jackpotting.

In 2017, Kaspersky Lab’s web antivirus detected 15 714 700 unique malicious objects and 199 455 606 unique URLs were recognized as malicious by web antivirus components. Kaspersky Lab solutions detected and repelled 1 188 728 338 malicious attacks launched from online resources located in 206 countries all over the world.

During past few years, the number and quality of attacks aimed financial sector organizations has continuously grown. The financial institutions that have not already thought about cyber security, will soon face the consequences of hacker attacks.

The end of the year is a good time to take stock of the main cyberthreat incidents that took place over the preceding 12 months or so. To reflect on the impact these events had on organizations and individuals, and consider what they could mean for the overall evolution of the threat landscape.

Welcome to ransomware in 2017 – the year global enterprises and industrial systems were added to the ever-growing list of victims, and targeted attackers started taking a serious interest in the threat. It was also a year of consistently high attack numbers, but limited innovation.

This time of year is an ideal hunting ground for hackers, phishers and malware spreaders; disguising their attacks as offers too good to refuse, a concerned security message from your bank requiring urgent attention, a special rate discount from your credit card service, and more.

In 2017, the main global threat to users was ransomware: and in order to recover files and data encrypted by attackers, victims were required to pay a ransom in cryptocurrency. In the first eight months of 2017, Kaspersky Lab products protected 1.65 million users from malicious cryptocurrency miners, and by the end of the year we expect this number to exceed two million.

2018 will be a year of innovation in financial services as the pace of change in this space continues to accelerate. As more channels and new financial service offerings emerge, threats will diversify. Financial services will need to focus on omni-channel fraud prevention to successfully identify more fraud crossing from online accounts to newer channels.

Looking back at a year like 2017 brings the internal conflict of being a security researcher into full view: on the one hand, each new event is an exciting new research avenue for us, as what were once theoretical problems find palpable expression in reality. On the other hand, as people with a heightened concern for the security posture of users at large, each event is a bigger catastrophe.

According to KSN data, Kaspersky Lab solutions detected and repelled 277,646,376 malicious attacks from online resources located in 185 countries all over the world.

Our growing dependence on technology, connectivity and data means that businesses present a bigger attack surface than ever. Targeted attackers have become more adept at exploiting their victims’ vulnerabilities to penetrate corporate defences while ‘flying under the radar’.

In September 2017, we discovered a new targeted attack on financial institutions. Victims are mostly Russian banks but we also found infected organizations in Malaysia and Armenia.