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Singapore Targeted By Cybercriminals with Banking Trojans - Kaspersky

IT Threat Evolution report of Kaspersky for the third quarter of 2015 reveals that Singapore suffered maximum attacks from banking Trojans during second quarter of 2015 with 496 individuals reporting attacks.

It is not a coincidence that Singapore is one of the ASEAN countries with the highest rates of digital banking.

According to an A.T.Kearney and EFMA global retail banking study, Singapore has the highest inclination for digital banking in the global arena.

Computerweekly.com published news during the last week of October, 2015, quoting Jimmy Fong, Channel Sales Director Southeast Asia, at Kaspersky Lab, as saying "The nation was also placed among the top three in banking capabilities which included technological developments, a strong financial environment and digital infrastructure".

Computerweekly.com published news during last week of October 2015 quoting Michael Yeo, Senior Market Analyst at market research firm IDC, as saying "Singapore is a magnet for such banking Trojans because of combination of the country's general wealth levels and growing use of associated services like e-commerce and mobile commerce".

Yeo added that Singapore is one of the nations which use maximum online banking services with 74% of the population using it.

The statistics also reveal that patrons in Austria were targeted by banking Trojans excessively than in any other region: Around 5% of all Kaspersky Lab patrons in Austria faced this malware during the quarter. Turkey (3%) was placed at number three.

Geographically most of countries in the top ten lists of information-stealing malware attacks during Q3 have a large number of users of online banking. Trojan-Downloader.Win32.Update was the most rampant malware used to target users of online banking, as it is being employed in 63.1% of attempted assaults to embezzle payment credentials of users.

In third quarter, the Kaspersky Lab Global Research and Analysis Team (GReAT) identified a number of advanced cyber-espionage operations. Amongst others, comprising of the infamous Turla gang that employs satellite communications to administer traffic of its command-and-control server for subsequent operations known as Darkhotel APT, which penetrates Wi-Fi networks of hotel to put backdoors on target systems and fresh activity of the Blue Termite APT focusing on embezzling information from establishments in Japan.`

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