Mobile banking fraud in Europe has increased
by a factor of 20; a trend that could follow in the U.S. Credit card fraud has hit critical mass in
the U.S., causing a push in technology in new mobile apps, which could create a
virtual playground for criminals. A recent
surge in the volume of U.S. credit card fraud has forced industries to adopt
the European EuroPay, MasterCard and Visa (EMV) card system. The resistance to the EMV conversion will
result in higher merchant costs and ATM manufacturer resistance, which has prompted
a growth in mobile banking apps.
Publication
date: 26
September 2016
Handling
requirements: Traffic
light protocol (TLP) GREEN
Attribution/Threat
Actors: Unknown at this time
Actor
Type: Adversary capabilities have been assessed as Tier III*
Potential Targets: USA
Past Reporting: Red Sky Alliance: DOC-3952,
DOC-4265
*Practitioners who focus on the discovery and use of unknown malicious code, are adept at installing user and kernel mode root kits10, frequently use data mining tools, target corporate executives and key users (government and industry) for the purpose of stealing personal and corporate data with the expressed purpose of selling the information to other criminal elements.
The full attribution report has been published in its entirety in the Red Sky Alliance portal. For more information please contact the lab directly at 844-4-WAPACK, 603-606-1246, or feedback@wapacklabs.com.
About Wapack Labs
About Wapack Labs
Wapack Labs, located in New Boston, NH is a Cyber Threat Analysis and Intelligence organization supporting the Red Sky Alliance, the FS-ISAC and individual organizations by offering expert level targeted intelligence analysis answering some of the hardest questions in Cyber. Wapack Labs’ engineers, researchers and analysts use deep analysis techniques and visualization to design and deliver transformational cyber-security analysis tools that fuse open source and proprietary information. The intelligence derived from these tools and techniques serve as the foundation of Wapack Labs’ information reporting to the cyber-security teams of its customers and industry partners located around the world.
