Keep your digital business safe from Financial Malware with XTN Cognitive Security®:
Financial Malware attacks have spread over the years, becoming increasingly sophisticated and multiplying typologies. Financial Institutions can experience financial malware on the web or mobile applications, such as online and mobile banking. In both cases, potential reputational damage to their online payment services is a real consequence.
Financial malware is a dangerous type of malware that is designed to steal financial information and money from victim’s accounts. As mobile use is increasing daily, it is most important to focus on protection against malware running on mobile devices. When it comes to mobile fraud, malware targets smartphones and tablets to access private data through a web or mobile app.
A wide range of Mobile Malware exists. Some of them replicate successful attack patterns developed on PCs (for example, RAT or Ransomware). In other cases, we see examples specifically designed for mobile platforms (SMS grabbers, Overlays, and many more). Some focus on state-sponsored spying software (Spyware). Some are more consumer-centric, stealing personal information (privacy-related), credentials, or money from the user or service provider.
Malware is designed to exploit devices at the user’s expense and to the benefit of the hacker.
Protecting digital sensitive services from becoming malware campaign targets is a priority each enterprise with consumer-facing services should have. Even if end-users are aware of best practices to prevent the introduction of malware apps in their smartphones, this is not always enough to protect them. Here, users should be safeguarded in accessing the service, preventing fraudsters from stealing and exploiting valuable information.
The Cognitive Security Platform® specializes in real-time malware detection. Our Artificial Intelligence is capable of identifying and monitoring malware running in real-time by evaluating the context in which mobile or web apps are executed and generating a corresponding risk score.
What specific information about the malware do we provide to our clients?
We provide highly specific information about the malware. We can accurately describe the type of malware family and its potential to introduce threats to the service. This precise assessment enables our clients to respond promptly to risks by implementing appropriate countermeasures whenever necessary. Additionally, they have the option to launch awareness campaigns targeted at end-users, protecting them and preventing the attacker from successfully carrying out fraudulent activities. Importantly, all of these actions are taken without compromising the user experience.
The XTN Financial Malware solution covers the following main areas of analysis:
Apps behavioral analysis: we analyze the apps present on the device from a behavioral perspective, identifying the most commonly used families of malware to attack financial applications.
Manipulations detection: we identify any manipulations introduced by malware within the app and operating system.
Consequences of Financial Malware can impact a digital business by:
• Sensitive information loss
• Reputation damage
• Opening the door to fraud
Have any question? We’d love to hear from you.