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Cyber Security

Super RATS? Comodo has Built a Better Mousetrap!

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RAT is a common term in the malware community, which refers to the Remote Access Trojans. As the name suggests, they are trojan viruses capable of infecting a compute but they are not mobile.

These stay-at-home creatures do not have the ability to spread to more machines or spread through portable storage devices.

Unfortunately, a new form of RAT appeared recently which is fully mobile and has the capacity to shift to a USB drive when it is connected to the infected computer. Researchers are baffled with this discovery and disturbed that this new trojan has broken all barriers previously prescribed for this threat.

You could call it a super RAT!

The njw0rm virus was developed and written by the same person who unleashed an older version last year called njRAT. Both threats are adept at stealing user credentials, infecting files, executing commands and downloading updates from the attacker.

The difference is that njw0rm is much more mobile. Once it infects the computer, it detects if a USB drive is attached to any of the ports. This update threatens Internet security because the trojan will instantly shift itself to the USB drive with a plan to further infect every computer that connects to the same external storage drive.

RATs have the capacity to be sent to a computer and will allow the hacker to gain control of the computer without being physically present. RAT will not spread automatically because it requires manual human interference on the other side to extract and infect the data available unlike crime-ware, which is capable of doing this on its own.

NjW0rm can continuously read the computer to detect USB connections. It creates a fake My Pictures folder in the removable drive to trick the user into clicking it and executing the malicious trojan. Similar to previously known USB viruses, the worm will read a pen drive and duplicate 10 different folders, hide the original files and create executable versions of the worm in the same original name.

The njw0rm also has the capacity to steal no-IP credentials, passwords stored in Chrome and FTP passwords found in XML files. Security experts have identified the code creator to be from Kuwait and are working towards identifying the exact location.

Lucky for us all that Comodo has built a better RAT trap with Comodo Internet Security. With its default/deny strategy and sandbox failsafe protection, it is truly

TEST YOUR EMAIL SECURITY GET YOUR INSTANT SECURITY SCORECARD FOR FREE Source: https://blog.comodo.com/malware/njrat-is-a-mobile-trojan-threatening-internet-security/

Cyber Security

Digitally Signed Bandook Trojan Reemerges in Global Spy Campaign

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Source: https://threatpost.com/digitally-signed-bandook-trojan-spy-campaign/161676/

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Cyber Security

MacOS Users Targeted By OceanLotus Backdoor

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Source: https://threatpost.com/macos-users-targeted-oceanlotus-backdoor/161655/

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Cyber Security

Pandemic, A Driving Force in 2021 Financial Crime

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The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.

Source: https://threatpost.com/2021-financial-crime-covid-19/161665/

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Big Data

Contactless payments market to reach US$ 26.3 billion by 2027

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Contactless Payments Market To Reach US$ 26.3 Billion By 2027

The global contactless payments market is expected to surpass US$ 26.3 Billion by 2027 end, registering a CAGR of 12.9% during the forecast period of 2019 to 2027), as highlighted in a report published by Coherent Market Insights.

Increasing demand for contactless payments from the retail sector is expected to drive market growth during the forecast period. Retailers are modernizing their brick-and-mortar stores to offer secure services to customers and establishing online stores to increase revenue.

They are adopting advanced technologies such as big data analytics and cloud computing to increase their presence in the market. Retail manufacturers are using contactless payments methods that provide many benefits, such as reduced transaction time, increased operational efficiency, increased revenue, minimized cost, and others. Contactless payment methods at retail stores reduce transaction process and queue in counter.

Moreover, governments are also focusing on introducing new payment methods in order to increase productivity and remain competitive in the market. For instance, in December 2016, the government of India launched BHIM app for Unified Payment Interface (UPI). The common UPIbased BHIM app allows the user to send and receive money through their mobile phones by linking their bank accounts. For instance, according to Coherent Market Insights’ analysis, the number of transactions done through the Bharat Interface for Money (BHIM) app reached 18.8 million in February 2020.

Contactless Payments Market – Impact of Coronavirus (Covid-19) Pandemic

According to Coherent Market Insight‘s study, globally, most of the countries are affected by COVID-19 and most of the countries have announced lockdown.Contactless payment have become more preferred payment method, as it requires less physical interactions.

Smartphone based payment interface and digital wallets are the potential solutions to contain the spread of coronavirus pandemic. Moreover, recent developments in digital payments have encouraged the use of contactless payment methods during this pandemic. For instance, in April 2020, Upgrade Inc., a U.S.-based loan company, launched new contactless credit card. The new credit card provides high transaction limit than other payment methods.

Moreover, bank authorities and card network in Germany, U.K., Austria, and other countries have set higher transaction limit, as people are staying at home and prefer shopping through payment cards only. For instance, U.K Finance Limited increased the transaction limit for contactless payment cards starting from 30 Euros to 45 Euros. This, in turn, increases demand for contactless payment solutions.

Key Trends and Analysis of the Global Contactless Payments Market:

  • Europe held dominant position in the global contactless payments market in 2019 and is expected to retain its dominance throughout the forecast period. This is owing to increasing payment through smart cards. For instance, according to the Electronic Transactions Association (ETA), contactless payments through Mastercard and Maestro increased by 145% in Europe in 2018. Furthermore, in 2019, according to Coherent Market Insights’ analysis, the transactions through contactless payment methods reached 651 million in the U.K.
  • Asia Pacific is expected to show significant growth over the forecast period. The increasing adoption of contactless payment methods from retail industry is fueling the market growth. Retailers are modernizing their conventional payment methods with contactless payment methods, in order to improve productivity and efficiency in the business.
  • Among device type, the smartphone segment held dominant position in the market in 2019 and is expected to retain its dominance during the forecast period. This is owing to increasing demand for live streaming from consumers. For instance, the online video streaming market is expected to exceed US$ 70,000 million in 2021 from US$ 30,000 million in 2016.
  • Major players operating in the global contactless payments market include Thales Group, Infineon Technologies AG, Ingenico Group, Wirecard, VeriFone, Inc., Giesecke+Devrient GmbH, IDEMIA, Track Innovations LTD., Identiv, Inc., CPI Card Group Inc., Setomatic Systems, Valitor, PAX, PINPAD, Mobeewave, alcineo, and Paycor, Inc.

Source: https://www.fintechnews.org/contactless-payments-market-to-reach-us-26-3-billion-by-2027/

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