A combination of new malware and old-fashioned social engineering has been used to rob companies of more than US$1 million, according to a new study from IBM.

The attacks, dubbed “Dyre Wolf” by IBM, suggests the work of experienced online criminals brazenly attempting to rip off large organizations.

“As we continue to see, cybercriminals grow in resourcefulness and productivity at alarming rates. They are sharing expertise on a global scale via the deep Web and launching carefully planned, long-term attacks to attain the highest return on investment,” wrote John Kuhn, IBM senior threat researcher, in a blog post co-authored with fellow IBM researcher Lance Mueller.

Dyre Wolf uses a variant of Dyre, which is malware written to target the websites of hundreds of banks..

“Since its start in 2014, Dyre has evolved to become simultaneously sophisticated and easy to use, enabling cybercriminals to go for the bigger payout,” Kuhn wrote. An organized but as-of-yet unidentified group of attackers also rely on talking to users by phone, in order to bypass the two-factor authentication most organizations have put in place to thwart online attacks

Read the Full Article: Source – Computer World
http://www.computerworld.com/article/2905977/enterprise-bank-accounts-targeted-in-new-malware-attack.html

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