Banks have to work to counter cybercriminals' work
Banks have to work to protect each transaction – which could include credit card payments – from cybercriminals, it has been suggested by a web security company.
Banks have to work to counter cybercriminals' work”
Yuval Ben-Itzhak, chief technology officer at Finjan, said banks face an ongoing challenge to trace every transaction to ascertain whether it is real or fraudulent.
He also stated cybercriminals are likely to use more and more sophisticated combinations of fraudulent tools such as Trojans and money mules over the coming years.
Mr Ben-Itzhak stated it is then the job of the bank to make sure they have systems in place so that cybercriminals are unable to bypass their protection.
His comments follow news that cybercriminals are using new techniques to get into online bank accounts, which could include credit card accounts.
These are designed to minimise detection, according to Finjan's Malicious Code Research Centre.
Mr Ben-Itzhak added: "It's definitely an ongoing challenge. There is no cook book of 'one, two, three, and you can stop it'."
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