Cyber Security

2024 Financial Cybersecurity Landscape: Banking Trojans, Rise of Affiliate Groups, Attacks on Direct Payment Systems

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(source: Kaspersky)

In its crimeware report and financial predictions for next year, Kaspersky expects a rise in cyberattacks, exploitation of direct payment systems, the resurgence of Brazilian banking trojans, and open-source backdoored packages. Cybersecurity for 2024 requires proactive, collaborative, and innovative defenses.

In 2024, there is a prediction that cyberattacks driven by artificial intelligence will increase. These attacks will mimic legitimate communication channels, leading to a proliferation of lower-quality campaigns. Cybercriminals are expected to take advantage of the popularity of direct payment systems, leading to the emergence of clipboard malware and increased exploitation of mobile banking Trojans. 

Additionally, there is a growing concern about open-source backdoored packages becoming more common in 2024. Cybercriminals are taking advantage of widely used open-source software vulnerabilities, which can lead to compromised security, data breaches, and financial losses. 

What’s more, experts predict that affiliate groups in the cybercriminal world will have a more flexible structure in the coming year, with members frequently switching between or working for multiple groups simultaneously. This adaptability will make it more difficult for law enforcement to track and effectively combat cybercrime.

Other important predictions include:

  • Global adoption of Automated Transfer Systems (ATS). The global adoption of mobile ATS will extend beyond Brazilian borders, allowing cybercriminals worldwide to exploit these systems for financial gain.
  • Decrease in zero-days, increase in one-day exploits. Crimeware actors will shift to more reliable one-day exploits due to the scarcity of zero-days, aiming for increased accessibility.
  • Exploitation of misconfigured devices and services. An increase in the exploitation of misconfigured devices and services, providing cybercriminals with unauthorized access for launching attacks.

“To stay ahead, financial institutions and organizations must proactively adapt their cybersecurity strategies, fortifying defenses to safeguard assets and sensitive data. The key to success lies in fostering collaboration between the public and private sectors, forging a united front against the escalating risks that define the financial cybersecurity terrain in the year ahead,” shared Marc Rivero, lead security researcher at GReAT.

Read the complete list of financial predictions for 2024 at Securelist.com.

Written by
Tech Beat Philippines

Tech Beat Philippines is the social media news platform for all things technology. It is also a part of the GEARS section on Daddy's Day Out.

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