Cybercrooks used a Trojan to steal more than EUR500,000 in just one week from the customers of a European bank, says security firm Kaspersky Lab.
Yet another scary example of an instance of payment fraud as a result of criminals hacking consumers' PCs. Sadly this is unlikely to be the last, and of course it's particularly hard to predict what trojans organised criminals will come up with next. This
does draw attention to the fact however that banks urgently need to employ an additional line of defence using real-time transaction monitoring for the growing transaction volumes through their online and mobile banking channels. Both because of the growing
importance of these channels and as a vital means of reassuring customers of the security of their payment information. It's not rocket science - the industry needs to take action so that customers don't think twice before banking or shopping online.
CompetitiveUSA - remote
© Finextra Research 2014