10 May 2011

Financial malware targets all types of businesses, says expert

For companies of all sizes, financial malware attacks by cyber criminals is a dangerous threat.

According to Richard Moffitt, a consultant systems engineer for Trusteer, financial malware can target many types of companies and be implemented in many ways by cyber criminals, including through banking procedures and online transactions.

As companies continue to be targeted, many will invest in IT systems to improve their security.

“It'll even spread further into businesses that aren't directly involved in financial transactions - there are attacks on gambling sites and other businesses,” said Moffitt. “This way of getting into people's computers is used for many things, not just financial transactions. We'll see that spreading more.”

Moffitt also added that whatever method of business is the the most popular will be the one targeted by hackers.

Last month, an internet security expert stated that collaboration between the IT industry, specifically cloud-based malware identification and information capabilities, could eliminate up to 90 percent of all malware.