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Posts Tagged ‘ThreatMetrix’

New Zeus malware strain attacks Facebook & Gmail users

Thursday, July 5th, 2012

FacebookIf you don’t have enough to worry about, here’s a new malware warning. A new strain of Zeus malware puts Facebook and Gmail users at high risk for cybercrime. This new variant steals credit card information by posing as the typical login pages for Facebook and Gmail and then asking users to enter credit card credentials.

Security firm ThreatMetrix identified this strain as a new variant of the peer-to-peer (P2P) version of the notorious Zeus Trojan.

It poses intensified risk for Facebook and Gmail users due to its unusually cunning behavior, catching victims off-guard by waiting to attack until after a website’s login page appears to be functioning normally.

After the user logs in, fraudulent pages appear personalized with the victim’s information and request credit card information, posing as genuine assets of Facebook or Gmail.

“Today’s cybercriminals are rapidly evolving to surpass some of the most advanced malware and cybercrime automatic detection routines,” said Andreas Baumhof, chief technology officer, ThreatMetrix.

Google“Recently, social media platforms have taken to monetizing their sites. Facebook now has Facebook Credits, while Google’s Checkout is widely used by many online vendors. Online businesses need to take the proper steps to protect their users from these attacks.”

ThreatMetrix tracked this strain of attacks on sites like Facebook and Gmail, formulating a list of common scams consumers need to be aware of:

  • “Transferring Facebook Credits to your bank account is now available!”
  • “Earn up to 20 percent cash back purchasing Facebook Credits with your MasterCard or Visa debit card.”
  • “Link your debit card right now with your Google Mail account to pay simply and securely at more than 3,000 stores online.”

For more information on the new strain of Zeus Malware, ThreatMetrix Labs reports are available at http://threatmetrix.com/resource-center/threatmetrix-labs-reports/.

Majority of millennials and boomers concerned about online fraud (infographic)

Friday, November 11th, 2011

A  new study found 77 percent of Boomers and 62 percent of Millennials said they are concerned about becoming a victim of online fraud.

The supplement findings, pulled from the “Mobile Payments and Online Shopping Survey” conducted by ThreatMetrix and The Ponemon Institute, specifically analyzed a bifurcated survey sample based on two discernible age groups: Millennials (defined as age 18 to 25) and Boomers (55 or older).

For a different look at Millennials see: What do millennials want.

While Millennials report being less concerned about online fraud than Boomers, half of those between the age of 18 and 25 say the security of an online website is a factor in determining whether they use that particular merchant.

“It’s interesting to note that while the younger generation is less concerned about online fraud in general, when they do question the fraud prevention measures of an online merchant, they say it adversely influences their experience with that particular brand,” said Bert Rankin, vice president of marketing, ThreatMetrix.

“It’s a big concern if online retailers are losing out on potential sales simply because consumers can’t trust the security of the transactions on the website.”

Rankin further explained that mobile payments and m-commerce presents an entirely separate set of issues than online shopping, primarily because it is a relatively new channel in which consumers have yet to fully engage.

However, despite only one in four Boomers indicating they have used their smartphone or tablet to make a mobile payment, 60% of Millennials cited they have done so.

Millennials more likely than boomers to make mobile payments

Of those who have used a mobile payment, Millennials were more likely than Boomers to do so because of convenience. In contrast, the majority of Boomers cited their belief in increased security as the No. 1 reason for conducting mobile payments.

Twenty-six percent of Boomers perceive fraud risk to actually be lower when using a smartphone. This, compared to 40% of Millennials.

“Mobile offering better fraud protection is a common misconception that fraudsters use to their advantage,” said Rankin. “Not only are merchants still trying to understand the mobile channel, but the majority of consumers don’t even download virus protection on their smartphones. And with more consumers using mobile devices to purchase goods, leverage social networks and conduct banking transactions, fraud is of growing concern in this channel.”

Download a complimentary copy of the report, “Mobile Payments and Online Shopping Survey, Supplement: Baby Boomers vs. Millennials.”

fraud infographic