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Cybercriminals are increasingly utilizing sophisticated tactics, particularly infostealers, to target financial institutions. These malicious programs steal sensitive data, including login credentials, financial information, and personal details. The ‘Lumma Stealer’ malware, known for its use of fake CAPTCHA pages, has gained notoriety by infiltrating systems through phishing schemes and compromised game downloads. This trend is further amplified by the rise of social engineering scams, which involve manipulating individuals into divulging confidential information. The alarming increase in social engineering scams, particularly targeting financial institutions, has resulted in a 10-fold rise in reported incidents within a year. These scams account for a significant portion of digital banking fraud, highlighting the growing threat posed by these techniques. This highlights the need for robust security measures to mitigate the risks associated with these evolving cyberattacks.

References:

• Information Security Buzz - Cybercriminals are leveraging increasingly sophisticated attack methods, including the strategic deployment of infostealers, research from Check Point Software’s October 2024 Global Threat Index rev - 9d
• Help Net Security - North American financial institutions fielded 10 times more reports of social engineering scams in 2024 than they did a year ago, according to BioCatch. The data shows scams now represent 23% of all d - 9d

Classification:

• HashTags: Infostealer SocialEngineering FinancialSecurity
• Company: BioCatch
• Target: Financial Institutions
• Type: Malware
• Severity: Major