New, Sophisticated Malware Targeted PayPal, Citibank

MyBankTracker

By , Staff Writer
Posted on Tue Aug 21, 2012, Last Updated on Tue Aug 21, 2012

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Researchers earlier this month discovered a new, state-of-the-art computer virus had targeted Lebanese banks, PayPal and CitiBank.

According to Bank Systems & Technology, the so-called Gauss virus represents an escalation in the weapons race between finance criminals and security experts.

A year and a half ago fraudsters started figuring out how to overtake browser-hardening technologies. Then a year ago they learned how to ride in on a customer’s session during login to bypass complex device device authentication methods. The appearance of a sophisticated malware virus aimed at gathering banking credentials that was possibly developed, like Stuxnet, by a state-sponsored lab signals a new step up in that arms race.

If, perchance, you’re an expert in cryptology, the folks fighting against Gauss could use your help.

Regular, non-cryptology experts may want to just use cash for the next, say, 20 years or so.

 

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