In a stark warning to financial institutions, cybersecurity experts from Kaspersky are urging local banks and organizations to ramp up their defenses in 2024. As Artificial Intelligence and heightened automation take center stage, the company’s latest crimeware report and financial predictions highlight looming threats such as the resurgence of Brazilian banking trojans, attacks on direct payment systems, and the rise of affiliate groups.
Last year’s predictions by Kaspersky proved accurate, including the foresight on the surge in Web3 threats and the growing demand for malware loaders. However, expectations surrounding “Red Team” frameworks and a Bitcoin payment shift did not materialize.
Looking ahead to 2024, the cybersecurity firm anticipates an AI-driven surge in cyberattacks mimicking legitimate communication channels, resulting in a proliferation of lower-quality campaigns. This alarming trend is expected to capitalize on the popularity of direct payment systems, leading to the emergence of clipboard malware and increased exploitation of mobile banking Trojans.
One concrete example of this threat is the Grandoreiro family of banking trojans, which has already expanded its operations abroad, targeting over 900 banks across 40 countries. Local financial institutions need to remain vigilant against such globalized cyber threats.
Another troubling prediction points to the rise in open-source backdoored packages. Cybercriminals are expected to exploit vulnerabilities in widely used open-source software, potentially compromising security and exposing businesses to data breaches and financial losses.
The landscape in 2024 will witness a more fluid structure among affiliate groups in the cybercriminal ecosystem. Members are anticipated to switch between or work for multiple groups simultaneously, making it increasingly challenging for law enforcement to track and combat cybercrime effectively.
Key predictions for the financial cybersecurity landscape in 2024 include:
- Global Adoption of Automated Transfer Systems (ATS): The proliferation of mobile ATS beyond Brazilian borders will enable cybercriminals worldwide to exploit these systems for financial gain.
- Decrease in Zero-Days, Increase in One-Day Exploits: Crimeware actors are expected to shift to more reliable one-day exploits due to the scarcity of zero-days, aiming for increased accessibility.
- Exploitation of Misconfigured Devices and Services: There will be a rise in the exploitation of misconfigured devices and services, providing cybercriminals with unauthorized access for launching attacks.
“In the ever-evolving landscape of financial cybersecurity in 2024, we anticipate a surge in threats, heightened automation, and the unwavering persistence of cyber criminals. To stay ahead, financial institutions and organizations must proactively adapt their cybersecurity strategies, fortifying defenses to safeguard assets and sensitive data. The key to success lies in fostering collaboration between the public and private sectors, forging a united front against the escalating risks that define the financial cybersecurity terrain in the year ahead,” according to Marc Rivero, Lead Security Researcher at GReAT.
The full list of financial predictions for 2024 is available online via Securelist.com. Financial predictions are part of Kaspersky’s Vertical Threat Predictions for 2024, one of the segments of the Kaspersky Security Bulletin (KSB) — an annual series of predictions and analytical reports on key shifts in the cybersecurity world.