Online Banking Users Urged to Beware of the New 'Silentbanker' Trojan

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Users could pick up the trojan, from simply browsing websites, downloading the trojan without their knowledge and not know about it until they are suddenly aware that they have been a victim of bank fraud.

Al Huger, the vice-president of Security Response and Services for Symantec said that more than 400 banks worldwide have been targeted by the trojan, that operates in several countries and different languages. He was quoted by Canada.com as saying "I'd have to say it is one of the most sophisticated we have seen. What makes it more dangerous is it seems to be staffed by professional software developers...They are writing this and maintaining it just like they would a piece of software you might buy."

Unlike conventional cyber banking frauds - where bank clients are steered to a bogus website masquerading as their bank's online pages - in this scam, the hacker uses the genuine bank website and is able to manipulate the user's account, steering payments into a hacker's account or cleaning out the entire bank funds altogether. It also can be used to steal credit card information and passwords.

The Silentbanker trojan waits for the user to login and pass authentication and silently acts as a third party in the transaction. Occasionally it may show its presence by adding a new function button to the website, but will most likely remain completely hidden.

All of the usual functions of the website, such as transferring of funds, bill payments and checking credit card balances, appear to be completely normal, giving the user no reason to suspect that the site has been compromised.

According to Symantec researcher Liam OMurchu, "It can then silently change the user-entered destination bank account details to the attacker's account details instead."

Fortunately updated security software, such as Symantec or McAfee who both have updates available to protect users from the Trojan.Silentbanker problem. Click one of the above links to see the technical details from either of these security software companies.