New and advanced malicious software targeting global financial technology institutions

Caspersky International Foundation, which specializes in cybersecurity and digital privacy, has announced the monitoring of a new and advanced malicious software used in campaigns targeting financial technology companies, online trading platforms and foreign exchange services worldwide, while recording affected cases in the United Arab Emirates, Egypt, Turkey and South Africa.

The software known as GRIFFHRAT is spread through Skype and Telegram channels, and is usually hidden in financial trend analyzes or investment instructions used in the fraud process.

These fraudulent methods target individual institutions and traders who carry malicious programs.

Once downloaded, the attackers can embezzle accreditation data, capture screenshots, broadcast a webcam, record clicks on the keyboard, and monitor user activities. The embezzled data can be used in various methods, ranging from collecting competitive intelligence information to tracing individuals or precious assets – which explains the wide potential for their misuse.

Caspersky researchers monitored GRIFFHRAT Software and tied them to cyber mercenaries, as third parties contract with the attacking bodies to carry out guided attacks – they are often moved by motives such as commercial spy.

Maher Yamut, a major security researcher, explained that this is a GRIFHARTTRAT, which is not made by random pirates, but rather a malicious software that is constantly updated and represents part of a wider trend in which cyber mercenaries are rented to collect sensitive information, usually to achieve financial or strategic gains. The stolen data may provide an insight into the mechanisms of the work of major organizations, give an illegal competitive advantage, and may also be offered for sale in the dark internet. It is a reminder that cyber crimes in the threat environment today are more professional, targeted and persistent. ”