Sunday, April 25, 2010

The Effect Of Banking Trojans On Small & Medium-Sized Businesses In The U.S.

The malware economy is flourishing and affecting both consumers and businesses of all sizes. The reality is that cybercrime is growing exponentially in frequency and sophistication. The following Panda Security study examines the prevalence and effects of cybercrime, specifically banker Trojans, on an increasingly targeted demographic: small and medium-sized businesses (SMBs). After a thorough survey of more than 300 high-level SMB executives across a wide range of industries, Panda Security found SMBs are lacking a solid level of awareness around the real risk that their businesses face, and more pressing, that they may not be as protected as needed to keep their assets and networks safe.

Panda Security found that while a majority of respondents are concerned about online banking fraud and identity theft in their organizations, they don’t have a good understanding of how best to protect their businesses. In addition, they have a false sense of security in terms of their expectations around bank reimbursement in the unfortunate event they fall victim to fraud.

Overall, Panda Security’s study revealed some compelling results:
  • 66 percent of the 25 million malware samples collected by PandaLabs in 2009 were banker Trojans
  • 52 percent of respondents had little or no familiarity with banking Trojans, despite the wave of increased attacks in 2009
  • Small businesses continued to be a prime target for cybercriminals in 2009 as evidenced by the multiple attacks using banker Trojans such as URLZone
  • 49 percent of survey respondents use online banking to make and receive payments online
  • 11 percent of SMBs said they have or may have been affected by online fraud or identify theft, of which 86 percent were reported to authorities
  • 15 percent either do not have updated security software on all systems where online transactions are conducted or are unsure of the status of their security software at their organizations

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