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Israeli-based Security firm Trusteer has found an elaborate new computer virus that not only helps fraudsters steal money from bank accounts -- it also covers its tracks.
A new version of the widely prevalent SpyEye Trojan horse works much the same way, only it swaps out banking Web pages rather than video, preventing account holders from noticing that their money is gone.
The Trojan horse employs a powerful two-step process to commit the electronic crime. First, the virus lies in wait until a customer with an infected computer visits an online banking site, steals their login credentials and tricks the victim into divulging additional personal information such as debit card information. Then, after the stolen card number is used for a fraudulent purchase, the virus intercepts any further visits to the victim's banking site and scrubs transaction records clean of any fraud. That prevents -- or at least delays -- consumers from discovering fraud and reporting it to the bank, buying the fraudster critical extra time to complete the crime.
The virus' evidence-covering techniques are elaborate. First, it keeps track of all fraud committed by the criminal, and makes sure to remove those line items from online transaction lists. It also edits balance amounts to prevent consumers from getting suspicious.
"This is a very scary tactic," said Avivah Litan, a financial fraud analyst at consulting firm Gartner. "Everybody thinks all they have to do is check their transactions and their balances. That's not true anymore."
Victim account holders who check their balance at an ATM -- or even at a second uninfected computer -- would be able to spot the fraudulent transactions. The virus doesn’t impact bank systems, merely the characters that are displayed within the infected system's Web browser. That means paper statements would reveal the fraud, too.
Originally posted by Afterthought
reply to post by SilentE
Thanks for adding your recent experience. I hope you didn't get this bad boy on your computer.
You're probably safe since all your bills went out without any problems. I'm sure your bank or credit union would've been alerting you if something was amiss. At least I hope so.
Originally posted by bluemirage5
reply to post by Afterthought
To my knowledge this has only affected Israelis.
Originally posted by JibbyJedi
Solution: Don't do online banking.
Best we can do is stay away from it as long as possible, pay your bills over the phone or at pay locations for utilities. Use pre-paid VISA/MASTERCARDs if doing online purchases. If those cards are compromised online, those companies usually investigate the fraud and refund the false charges.
Originally posted by LadySkadi
reply to post by SilentE
An idea: Use a Linux program on a USB that runs in RAM.
No virus issues to infect your Windows machine.
Example: SlimPup, MacPup, Puppy Linux
Originally posted by LadySkadi
reply to post by SilentE
Understood. Let me know (U2U) if you want me to walk you through it, it's very easy to do and best part: You will not be risking your current system, since this option will bypass your OS and hard drive. No permanent changes to your computer. Cheers.
Originally posted by TheMindWar
Is there nothing the banks wont produce to steal our money?