View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cybersecurity
February 2, 2012

Hackers manage to outsmart online banking security systems

They use the Man in the Browser (MitB) scheme to steal account holders money

By CBR Staff Writer

Hackers have started targeting banking institutions by managing to outwit the latest online banking security techniques.

The hackers fool the account holders with an offer of training in a new "upgraded security system" after being logged into the bank’s real site. They later move out the money out of the account holders, without leaving any traces of evidence to the user about the theft, according to the BBC.

This method of victimising users, which has been dubbed the Man in the Browser (MitB), uses malware to manipulate what is seen on the screen or keyed in by the user.

According to a security expert, the Man in the Browser (MitB) is a specifically focused attack against banking systems.

If a malware threat interacts with a web-address that is not listed as bad, it would have no hassles in bypassing the protection barrier.

Account holders have been advised by experts to use up-to-date anti-virus software and be more alert to avoid getting trapped.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.