SOURCE: IronKey

IronKey

February 02, 2011 07:15 ET

Webcast Documents Unprecedented Explosion of Financial Malware

Instructs Financial Institutions and Businesses How to Fight Back

SUNNYVALE, CA--(Marketwire - February 2, 2011) - With up to $6 billion in annual financial losses from online fraud, understanding the threat posed by cyber gangs harnessing financial malware like the ZeuS Trojan or Spyeye is essential for every executive and manager in any industry. 

A new 20-minute online webcast from IronKey, aimed at banking executives, commercial online banking customers and enterprises, explains the latest bank phishing attacks, the ZeuS Trojan and Spyeye, the "mule" economy and dozens of other topics relevant to understanding and fighting this serious crime wave.

"Protecting Online Banking Customers from Evolving Cyber Crime Threats" reports real world scenarios and statistics, presented by security industry insider Dave Jevans, founder and CEO of IronKey. Jevans' insights are further shaped by his active involvement with law enforcement agencies and financial services companies as the chairman of the Anti-Phishing Working Group (APWG), a consortium of more than 1,500 organizations dedicated to fighting email fraud and identity theft online. The group's sponsors and research partners include the American Bankers Association, eBay, PayPal, VeriSign and Entrust.

More than 50 percent of PCs are infected with some kind of malware, and hackers spend months targeting individual CEOs or businesses to loot their commercial checking accounts or steal intellectual property. Recent arrests in the UK and US show how a few criminals can bring chaos to the banking world. 

"What we are seeing now is an evolution of malicious software unlike anything we've ever seen," said Jevans. "The ZeuS Trojan and Spyeye are not just individual pieces of malware, but are toolkits used to do everything from rendering authentic looking bank landing pages to creating a broad range of sophisticated download attacks such as keyboard logging, man-in-the-browser and DNS tampering."

"With thousands of cyber criminals working together to create plug-in apps that constantly introduce new threat vectors, the result has been an unprecedented explosion of unique malware signatures. Increasingly, criminals using the ZeuS Trojan and Spyeye are targeting commercial bank accounts or CEOs, celebrities and high net worth individuals where the payout is high. Banks and commercial banking customers should focus on protecting the endpoints against online fraud and ensuring financial malware protection," said Jevans.

Topics on the webcast include:

  • Emerging tactics criminals use to take over online bank accounts
  • Why current endpoint security such as antivirus software and strong authentication cannot stop online bank account takeover
  • The increasing sophistication of bank phishing, ZeuS Trojan, Spyeye and other attacks
  • How cyber gangs use the Internet, botnets and unsuspecting "mules" to evade law enforcement
  • 2011 outlook: Why the financial malware threat level will continue to grow
  • What the banking industry can do to fight back against online banking fraud

To stay current with the latest news and perspectives on bank phishing, ZeuS Trojan and Spyeye, also visit Dave Jevans' blog, "Privacy and Identity Theft."

To help protect online banking users from financial malware and the more than 70,000 ZeuS Trojan variants produced annually, IronKey developed Trusted Access for Banking, a solution that provides a secure and trusted endpoint independent of the client PC, following guidelines issued by the FBI and NACHA for protecting commercial bank accounts. It provides a separate, dedicated computing environment for commercial banking with automatic software updates, built-in malware scanning and two-factor SecurID authentication. For more information, contact IronKey at info@ironkey.com or visit https://www.ironkey.com.

About IronKey
IronKey provides essential security products for mobile and remote workers. IronKey solutions protect remote workers from the threats of data loss, compromise of passwords, and computers infected by malicious software and crimeware. IronKey multi-function devices connect to a computer's USB port and are easy to manage with the IronKey management service. This allows users to securely carry sensitive corporate data, strongly authenticate to VPNs and corporate networks and isolate remote workers from malicious software and crimeware. IronKey customers include Fortune 500 companies, healthcare providers, financial institutions and government agencies around the world. www.IronKey.com

Contact Information