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    Monday, December 24, 2018

    Kaspersky Warns of Biometric Data Leakage in 2019

    Kaspersky Lab has predicted a leakage in the biometric data stored by financial institution in 2019.
    It warned that countries in Africa and Middle East region would witness the first attacks through the theft and use of biometric data.

    The cybersecurity company, in its report titled ‘2018 Financial Insights and Predictions for 2019’, noted that biometric systems for user identification and authentication are being gradually implemented by various financial institutions.
    “Several major leaks of biometric data have already occurred. These two facts lay the foundation for the first proof-of-concept attacks on financial services using leaked biometric data,” analysts at the company stated.

    It added that activity of cybercriminals in the Indo-Pakistan region, South-East Asia and Central Europe was constantly growing due to the immaturity of protective solutions in the financial sector and the rapid spread of various electronic means of payment among the population and companies in the region.
     According to the KSN statistics by Kaspersky Lab, the Middle East, Turkey and Africa region witnessed 17 per cent increase in banking malware attack to reach almost half a million attacks in 2018.
    It added that cryptocurrencies had also become an established part of many people’s lives, and a more attractive target for cybercriminals across the world, which resulted in a rapid increase in malicious mining of cryptocurrencies.

      Kaspersky Lab reported a four-fold increase in cryptomining attacks in the META region from 3.5 million in 2017 to 13 million in 2018.
     “The META region is becoming more appealing to cybercriminals, with financial and malicious cyrpotomining attacks taking centre stage. We discovered six new ATM malware families in 2018. On the other hand, illegal mining of cryptocurrencies has increased dramatically to overtake the main threat of the last few years: ransomware. We believe the reason behind this is that mining is silent and cause less impact than ransomware, making it less noticeable,” the Senior Security Researcher at Kaspersky Lab, Fabio Assolini, said.

    Analsyts in the company said cybercriminals were not showing any signs of stopping and attacks would continue to evolve.
    It added, “Mobile applications for business are gaining popularity, which is likely to lead to the first attacks on their users. There are enough tools for this, and the possible losses that businesses incur would be much higher than the losses incurred when individuals are attacked.”
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