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Evolving Cybercrime Threats Exposed: Panel Discussion to Tackle Online Banking Crime

Strategic Insights

— 1 min read

Cybercrime has never been a greater concern for online banking customers, with a staggering 45 percent of U.S. PCs infected by crimeware, according to the latest Anti-Phishing Working Group (APWG) research. To address this growing threat, a panel discussion will be held at the 2011 Online Trust Forum in Washington, D.C., featuring Dave Jevans, chairman of IronKey, and other experts. The discussion, titled "Evolving Cybercrime - How we can work together to protect customers & the ecosystem," will explore the role of the Web in today's online crime, including the shift to target enterprises via spear phishing, and what can be done to reduce those risks.

Key Takeaways:

  • 45 percent of U.S. PCs are infected by crimeware, according to the latest Anti-Phishing Working Group (APWG) research.
  • Online banking account takeovers are growing at over 150 percent, based on new research published by FS-ISAC (Financial Services Information Sharing and Analysis Center).
  • Anti-malware software fails to detect crimeware designed to steal money at least 75 percent of the time, according to real-time research from SpyEye Tracker.
  • IronKey's Trusted Access solution assumes a customer's computer is infected with ZeuS or SpyEye or the latest zero-day attack and provides a secure Web browser protected in a fully virtualized, read-only environment.
  • The IronKey Trusted Access method is recognized by the Federal Financial Institutions Examinations Council (FFIEC) as one of the effective security controls for online security.
  • The secure browser approach is recognized by research firm Gartner, Inc. as one of the most critical security controls for preventing online banking fraud.
  • The 2011 Online Trust Forum provides a unique platform for exploring solutions for protecting consumer trust and online confidence.

Statistics:

  • 45 percent of U.S. PCs are infected by crimeware (APWG research).
  • Online banking account takeovers are growing at over 150 percent (FS-ISAC research).
  • Anti-malware software fails to detect crimeware designed to steal money at least 75 percent of the time (SpyEye Tracker research).
  • January 2012: FFIEC guidelines for stronger online security go into effect.

Sources:

  • Anti-Phishing Working Group (APWG) research
  • SpyEye Tracker, September 9, 2011, https://spyeyetracker.abuse.ch/
  • FS-ISAC (Financial Services Information Sharing and Analysis Center) research
  • IronKey
  • Federal Financial Institutions Examinations Council (FFIEC) guidelines
  • Gartner, Inc. research
  • The Online Trust Alliance (OTA)

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