What is a banking Trojan and why should you care?

Posted on October 30, 2018 by Yvonne

Just like the horse in the well-known Greek legend, a Trojan disguises itself as something harmless to trick users into letting it past protections. Once inside the Trojan can complete any number of nefarious tasks, including accessing the users bank account. It doesn’t take a genius to know that’s not good. And it’s not only individuals at risk, some banking Trojans are specifically designed to target businesses.

Basically Trojans are bad news. Banking Trojans especially because they specifically target users and businesses where it hurts – bank accounts.

It might seem obvious that the ancient city of Troy made a big mistake when they accepted a gift from the Greeks, but these days the tricks are harder to spot. Phishing emails can be almost indistinguishable from those sent by legitimate businesses and Trojans can be hidden in something as innocuous as images. They’re everywhere and they’re getting more and more sophisticated every day. If you’re not worried about banking Trojan’s you’re not paying attention.

Good news is there are ways to significantly reduce your risk.

  1. Make sure you’re all up to date – this includes software but it also helps to make sure employees understand how to spot a phishing email or fake website.
  2. Install an antivirus – not the complete protection some think it is but a good antivirus is a necessary step in protecting your assets.
  3. Consider a traffic filtering service – a product like Thor Foresight works to prevent endpoint compromise.

Banking Trojans can be incredibly damaging, and they are getting more and more sophisticated every day. There’s no way to avoid the vulnerability of online transactions, but that doesn’t mean you can stick your head in the sand and accept the potential danger as an inevitable consequence of convenience. Banking Trojans are a part of life and not doing everything in your power to reduce risk is bad business.

To find out more about how you can protect yourself and your business from banking Trojans contact SecureSoft today.