We’ve all heard of ransomware. Malicious software locks you out of your computer. From there, it may encrypt your files and demand a ransom payment to decrypt them. One of the most notable ransomware attacks hit the city of Atlanta. The new method of attack on the rise is banking Trojans.

What is a Banking Trojan?

A banking Trojan works much like regular trojans. The typical infiltration process looks like the following:

  1. A user receives a phishing email.
  2. The user clicks on a link in the email that installs or downloads the banking Trojan.
  3. The banking Trojan disguises itself as a legitimate app or software.
  4. It begins to spread across the network to every device it can (even mobile devices can be infected).
  5. The Trojan uses a keylogger to record every keystroke (especially those typed within browsers).
  6. The Trojan sends those keystrokes back to the hacker.

Other variants of this process can be found in the wild that include scanning documents, capturing your screen, and more. Regardless of the means, the Trojan sends any information gathered back to the hacker. The hacker ultimately hopes to gain access to your financial institution. Consequently, the hacker will either clean out accounts, steal identities, or demand a ransom payment.

Banking Trojans Have Doubled

According to Beazley Insurance, banking Trojans have doubled over the last year. Over the first quarter of 2019, the number of attacks increased by 105% compared to the same period in 2018. Attackers seem to be targeting organizations utilizing ransomware-as-a-service (RaaS) to infiltrate more businesses than ever. Small businesses make for lucrative targets since they’re easier to infiltrate.

Prevent Banking Trojan Attacks

If you haven’t figured it out yet, you don’t want to be anywhere near a banking Trojan. You can prevent this type of attack by following the tips below.

  1. Update your software – This will patch vulnerabilities and bugs and help plug the holes malware uses to gain access.
  2. Learn how to recognize phishing emails – If you know what to look for, you can avoid clicking on links you shouldn’t.
  3. Use a password manager – Password managers bypass actually typing in passwords altogether, so keyloggers can’t capture the information.
  4. Install antivirus software – If you don’t already have antivirus software, why?
  5. Use traffic filtering – This solution will scan your inbound and outbound traffic and prevent malware from being installed in the first place.

Need Help Removing a Trojan?

Accidentally opening the door for a banking Trojan can happen to the best of us. Unfortunately, removing malware isn’t the easiest thing to do. Attempting to do so yourself can have mixed results. If you need help recovering from an attack, just request a consultation below. We can help with removing malware and preventing attacks as well. We’ve helped many businesses get back up and running in short order!

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