Financial cybercrime increase

Studies into the use of attack software, or malware, in the financial software industry has shown criminals are managing to beat the best security programs and get away with fraud.

Analysis shows that despite a dropping number of new spyware programs, threats to banks and financial services are increasing.

“Financial institutions around the world are seeing increasing losses from cybercrime,” Roel Schouwenberg, senior antivirus researcher at Kaspersky Labs told itnews.com.au.

“Investing in better security costs a lot of money. However, this is a choice that banks clearly have to make.”