30 Sep 2011

Singapore bank association warns customers of password-stealing spyware

A warning has been sent out to customers from the Association of Banks in Singapore to be on guard against a new malicious spyware program that could steal their online banking passwords. Users should have their antivirus software updated to help defend against such spyware programs.

The program, known as SpyEye, is a Trojan virus that infects web browsers and modifies web pages to steal personal information from users. Customers who look at their online banking account from an infected computer are at risk for malware which will create a third party beneficiary addition and transfer customer's funds into it. The bank association also warns the virus can spread via social networking sites and email.

Users who experience any symptoms of the virus should close their browser and contact their bank. Customers may receive a text message alert notifying them that they have "added a payee" or made a "funds transfer."

"Customers should also be careful about their online activities," according to the International Business Times. "Do not visit any unknown or unsecured web sites. When transacting their online banking activities, customers should verify the site before providing any log-in credentials. After completing an online transaction, users should always check their bank balance for any anomalous activities."