Friday October 18, 2019
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Security Researchers Find Malware Designed to Steal Money From Banks Grow Over by 60%

Kaspersky Lab said its solutions detected and repelled 843,096,461 malicious attacks from online resources located in 203 countries around the world

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Revealing a worrying global trend, security researchers have found that malware files designed to steal credentials and money from users’ bank accounts rose to around 30,000 in the first quarter of 2019, up from 18,500 in the previous quarter, a growth of over 60 per cent.

Mobile banking Trojans are one of the most rapidly-developing, flexible and dangerous types of malware, said the report from cyber security firmKaspersky Lab.

They usually steal funds directly from mobile users’ bank accounts, but sometimes their purpose is changed to steal other kinds of credentials.

The malware generally looks like a legitimate app, such as a banking application. When a victim tries to reach their genuine bank app, the attackers gain access to that too.

In Q1 2019, Kaspersky Lab detected around 30,000 modifications of various families of banking Trojans, trying to attack 312,235 unique users.

“The rapid rise of mobile financial malware is a troubling sign, especially since we see how criminals are perfecting their distribution mechanisms,” Victor Chebyshev, a security researcher at Kaspersky Lab, said in a statement.

It is said that the malware is hard to detect due to encryption and other tactics. Pixabay

“For example, a recent tendency is to hide the banking Trojan in a dropper – the shell that is supposed to fly to the device under the security radar, releasing the malicious part only upon arrival,” Chebyshev added.

A new version of the Asacub malware accounted for 58.4 per cent of all banking Trojans that attacked users, said the report.

Asacub first appeared in 2015. The attackers spent two years perfecting its distribution scheme and, as a result, the malware peaked in 2018, when it attacked 13,000 users a day.

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Since then, its rate of spreading has closed down, although it remains a powerful threat – in Q1 2019, Kaspersky Lab detected Asacub targeting 8,200 users a day on average.

To reduce the risk of infection with banking Trojans, users should install applications only from trusted sources, ideally from the official app store, said the security researchers.

Kaspersky Lab said its solutions detected and repelled 843,096,461 malicious attacks from online resources located in 203 countries around the world. (IANS)

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5 Less Known Activities You Can Actually Fund Through Bank Loan

Here are the lesser-known expenses that you can fund with the help of bank loans

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Bank Loan
There are 5 Less Known Activities You Can Actually Fund Through Bank Loan. Pixabay

Unplanned expenses can crop up anytime in your life. With a fixed amount of salary, sometimes you are left without savings for an unforeseen expense. However, with numerous loan options available from all sizes of banks, you can relax and take a deep breath. 

In today’s world, there is a variety of loan options offered by financial institutions, such as personal loan, car loan, education loan, house loan, and so much more. Given the factor that it is not always necessary that you need to go for a loan because you want to buy a car or a house. Here are the lesser-known expenses that you can fund with the help of bank loans: 

1 Planning a Family Vacation

It is said that the best travel experiences are unplanned. However, when you make random family vacation plans, you don’t always have enough money kept aside for it. Catering to such needs, there is an ample number of banks that offers personal loan for planning a family vacation. These loans provide a lower interest rate than that of any credit card. So, if you are planning to go for that trip that you have been preparing for so long, taking a loan from a bank is your best bet.

Bank Loan
However, with numerous options from Bank Loans, you can relax and take a deep breath. Pixabay
  1. Funding a Wedding

In India, weddings are considered a matter of pride. You love to go big and plan a spectacular big fat wedding. However, big celebrations often cost big money. The day to day expenses makes it impossible for you to stop and think about saving for your such expenses. So, what do you do when you go across your wedding budget? It’s simple; you can take out a loan to fund your wedding expenses. 

The best part of taking personal loans for a wedding is that you can repay the loan in inexpensive Equated Monthly Instalments (EMIs) over a flexible tenure of your choice. You can compare the EMI on an online EMI calculator to get a fair understanding of the ratio of principal interest to the interest due, based on the tenure and the interest rates.  

  1. Renovation of Home 

If you are a homeowner, the chances are that with time they’ll need repairs. Though, unfortunately, most of the upgrades come along with a hefty price tag. To ease this issue, you can go for a personal loan offered by reputed financial institutions like Axis Bank. First, make a list of the renovations that are required and the amount of money that you will need for the same. Then, with the help of an EMI calculator, you can evaluate the amount that needs to be paid through the EMI and let you make an informed decision about the loan. 

Bank Loan
However, mutual funds Investment with a Bank Loan can be risky as the returns are market linked. Pixabay
  1. Investing in Mutual Funds

You must have heard the financial lingo “invest a loan,” which means that you take a loan from the bank to invest in mutual funds. Taking a loan to invest in mutual funds can be fruitful in many parts like you can have a higher return on investment of the loan as opposed to a lower risk level of investment. However, mutual funds Investment with a loan can be risky as the returns are market linked. Therefore, you need to assess your risk tolerance and start by investing small amounts in different fund options. You can invest in SIP after calculating the monthly SIP amount using online SIP calculator and get good returns. When you keep such instances aside, investment is one of the lesser-known activity that can be funded by a bank loan.

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  1. Pay the Credit Card Bill

Indians have made the usage of credit card an essential part of their life. There are times when you need money to buy a gadget or a home appliance on an urgent basis. You might not have savings to match such emergencies and end up using your credit card. At the end of the month, you must clear your credit card bill, but you do not have enough in your account for the same. For such instances, you can take a personal loan to pay your credit card bills.