IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Top US banks targeted by Mastercard and Visa scam

Hackers are trying to dupe banking customers with copies of the Visa and MasterCard online fraud prevention programs.

Bank security

Hackers have managed to copy the Verified by Visa and MasterCard SecureCode protection features in order to dupe customers at 15 top US banks, a security firm has warned.

Once a secure online banking session has been started on an infected computer, a Zeus Trojan will inject the credit card security program facsimiles into the customer's browser, Trusteer said.

The user will be asked to enter their social security number, credit card number as well as its expiration date and PIN or Card Security Value code.

The fake security programs will also attempt to trick people by claiming that new Federal Deposit Insurance Corporation rules require them to sign up to the Visa and Mastercard services.

This data is then sent back to the hackers who will use it to carry out card not present' transactions with retailers using the Verified by Visa and MasterCard SecureCode services.

By impersonating victims, the fraudsters are able to avoid detection.

"While some users may become suspicious when prompted to enter their credit/debit card information as part of the online banking login process, this attack uses the familiar Visa and MasterCard online fraud prevention programs to make the request appear legitimate," explained Amit Klein, chief technology officer of Trusteer and head of the company's research organisation.

The Zeus Trojan has been the cause of plenty of security worries in recent times.

One in every 100 computers is infected with Zeus, according to Trusteer, and earlier this year RSA Security warned that almost 90 per cent of Fortune 500 companies in the US could have been affected by the malware.

Featured Resources

The Total Economic Impact™ Of Turbonomic Application Resource Management for IBM Cloud® Paks

Business benefits and cost savings enabled by IBM Turbonomic Application Resource Management

Free Download

The Total Economic Impact™ of IBM Watson Assistant

Cost savings and business benefits enabled by Watson Assistant

Free Download

The field guide to application modernisation

Moving forward with your enterprise application portfolio

Free Download

AI for customer service

Discover the industry-leading AI platform that customers and employees want to use

Free Download

Recommended

Fundbox adds digital payments through new Visa partnership
accounting

Fundbox adds digital payments through new Visa partnership

1 Jun 2022
Is the Global Talent Visa really helping the UK tech skills crisis?
recruitment

Is the Global Talent Visa really helping the UK tech skills crisis?

10 Oct 2021

Most Popular

Apple patches 'superpower' zero-days affecting iPhones, iPads, and Macs
zero-day exploit

Apple patches 'superpower' zero-days affecting iPhones, iPads, and Macs

18 Aug 2022
Why convenience is the biggest threat to your security
Sponsored

Why convenience is the biggest threat to your security

8 Aug 2022
Google is now spending a staggering amount on blockchain
Business strategy

Google is now spending a staggering amount on blockchain

17 Aug 2022