Hackers have always been troublesome to financial institutions. This time it is the Indian enterprises who have registered some serious losses due to breach of security. These enterprises have registered a loss of about 7 crore and as per a survey the Indian banks have suffered almost double of this amount, with a whopping Rupees 12.6 crore loss.
Due to online attacks there has been a loss of about 4 man hours and 80% of the respondents faced downtime. This threat for financial information has been the most widespread in recent years.
It goes viral by infecting files and by downloading malicious files from the net.
Zbot/Zeus is a malware package the enables the amateur hackers to steal banking credentials for financial gains. Cybercrime services are taken up as contract from and which are cheap. India ranks high on the cyber crime radar and ranks second in the world according to a security threat report.
India, China, Russia, US and Vietnam are the most targeted countries where the cyber criminals use social networking platforms to get personal information and hack into their financial information and database.
In the last 12 months almost a quarter of respondent banks have invested in identity management solutions and hoping that investments in technologies have regulatory requirements might have a control over this malpractice in the virtual world of internet!!
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