Tag: banking
19 articles
Banks Expose Accounts to Thieves by Making MFA Optional
Leaving multi-factor authentication optional has left countless bank accounts vulnerable to theft, with devastating consequences - just ask the 84-year-old victim who lost nearly $30,000 when thieves exploited this security gap. By making MFA optional, banks are inadvertently rolling out the red carpet for thieves.
Fortinet and Ivanti Exploits Fuel LATAM Infrastructure Attacks
In a shocking revelation, a coordinated campaign dubbed Operation Escaneo has been exposed, targeting critical infrastructure across Mexico, Ecuador, and Portugal, with a staggering 3,708 sessions recorded over just 13 days. The attackers exploited vulnerabilities in Fortinet and Ivanti perimeter appliances to gain entry into government, tax authorities, utilities, transport, telecoms, and banks.
Android Malware NFCShare Targets Europe Banks via GitHub Updates
Malicious actors are using GitHub to spread new variants of the NFCShare Android malware, disguising them as banking app updates to target customers of European banks. Victims are first lured into downloading the malware through phishing sites that mimic real banks, where they're prompted to install a fake update.
AI Botnets Fuel DDoS Surge in Financial Sector
The financial sector saw a staggering 2.41 billion network- and transport-layer denial-of-service attacks in 2025, with banking bearing the brunt, accounting for 60% of total web attacks and over 80% of API-related incidents. TurboMirai, a powerful AI botnet, was a key driver of this alarming surge, fueling attacks that lasted a whopping 738% longer than usual.
FIS and Anthropic Unveil AI to Accelerate Money Laundering Probes
Imagine having an AI-powered ally that supercharges your money laundering investigations, automatically gathering evidence, detecting patterns, and prioritizing case files in minutes - not days. FIS and Anthropic have joined forces to bring you the Financial Crimes AI Agent, revolutionizing banking's most costly compliance challenge.
Fraud Detection Lags as Losses Mount Despite Heavy Tech Investments
Despite pouring money into cutting-edge fraud detection tools and analytics, financial institutions are still struggling to outsmart scammers, with losses mounting at an alarming rate. The disconnect between heavy tech investments and rising fraud losses reveals a pressing need for a new approach to scam prevention.
JanelaRAT Malware Strikes Latin American Banks with 14,739 Attacks
Latin American banks faced a staggering 14,739 attacks from the JanelaRAT malware in 2025, putting sensitive information at risk and raising the stakes for financial institutions and their customers. This surge in attacks highlights the growing threat of JanelaRAT, a modified malware family that continues to target banks in countries like Brazil and Mexico.
Enterprises urged to accelerate post-quantum transition planning
Don't wait until it's too late - experts warn that enterprises must start planning and executing their transition to post-quantum cryptography now to stay ahead of the curve. By taking a proactive approach, organizations can demystify this complex technical shift and turn it into a manageable operational task.
Banks Overhaul Anti-Money Laundering as Instant Payments Scale
As instant payments scale, banks are racing to overhaul their anti-money laundering strategies to keep up with the lightning-fast pace of transactions that clear in the blink of an eye. With the Federal Reserve's recent move to lift transaction limits to $10 million, financial institutions must now make high-stakes AML decisions in real-time.
Critical Lloyds IT Glitch Exposes Alarming Data of 500K Customers
A recent IT glitch at Lloyds exposed the sensitive data of nearly 500,000 customers, highlighting the alarming vulnerabilities of our increasingly interconnected world. This shocking incident serves as a wake-up call, reminding us that even the most secure systems can be breached, and our personal data can be put at risk.
UK Report: Stunning liability rules could be costly
What if the software that runs hospitals, banks and supply chains could be held legally liable for every flaw? A new UK report urges clearer legal liability to force better security and faster fixes — but warns those protections could be costly, reshape markets and squeeze smaller vendors.
Android banking trojan: Stunning, Dangerous Klopatra
A new Android trojan called Klopatra is quietly hijacking phones with a hidden VNC channel—letting attackers watch and control screens to bypass MFA and steal funds, especially across Spain and Italy. Keep your device updated and apps from official stores, and banks should adopt out‑of‑band confirmations and behavioral analytics to block these stealthy attacks.
Android remote access trojan: Exclusive Risky Threat
“If you can see nothing, they can take everything” — Klopatra is a stealthy new Android remote-access trojan that quietly hijacks phones to steal banking credentials, intercept one-time codes, and automate fraudulent transactions. Stay vigilant: only install apps from trusted stores, scrutinize accessibility and overlay permissions, and push behavioral mobile security and out-of-band authentication to blunt these targeted, modular attacks.
major cyberattack: Shocking £206m Loss — Risky Fallout
After a major cyberattack forced the Co-op to isolate critical systems, the group now expects a £206m revenue hit — a sharp reminder that containing a breach can protect customers but comes with steep commercial costs.
steal $130 million: Stunning Risky Heist Exposed
Sinqia, one of Brazil’s largest fintech providers, says it stopped an attempt to steal about $130 million from two B2B partners. The near‑heist shows how vulnerable software‑based vaults can be and why hardening third‑party financial systems is urgent.
Hook Android Trojan: Stunning Dangerous Ransomware Threat
A new Hook Android Trojan variant now combines banking fraud with ransomware-style lockouts, letting attackers both steal credentials and hold phones hostage. Millions of users should tighten app sources, review permissions, and keep backups as defenders scramble to catch up.
payment fraud: Stunning Surge Puts Consumers at Risk
New York’s attorney general says Zelle’s bank owners and operator turned a handy, instant-pay system into a playground for scammers by prioritizing speed over safety, and now a lawsuit could force big banks to clean up their act. The case could redraw who’s liable for losses on real-time payment rails and push a rethink of convenience versus consumer protection.
ERMAC v30 Exposed: Stunning Risky Banking Threat
A public leak of ERMAC v3.0’s source code has pulled back the curtain on a sharper, more widespread Android banking trojan—revealing both powerful theft techniques and the operators’ sloppy mistakes that could help investigators. It’s a stark reminder that transparency can empower defenders, but also risks giving other crooks a head start if we don’t act fast.
Employee Receives $920 for Credentials Linked to $140 Million Bank Heist
Employee awarded $920 for credentials tied to a $140 million bank heist, highlighting the risks of insider threats in the financial sector.