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Financial Threat Predictions in 2020: Fintech, Mobile Banking and E-commerce to Intensify

December 3, 2019

WOBURN, Mass.--(BUSINESS WIRE)--Dec 3, 2019--

According to Kaspersky experts, financially motivated cyberthreat actors may start to target investment apps, online financial data processing systems and upcoming cryptocurrencies in 2020. Additionally, our experts predict they may offer paid access to banks’ infrastructures and develop new strains of mobile banking malware based on leaked source code.

Financial cyberthreats are considered to be some of the most dangerous, as their impact usually results in direct financial losses for victims. 2019 has seen some significant developments in the industry and also in how financial attackers operate. These events allowed Kaspersky researchers to suggest several important potential developments for the financial threat landscape for 2020 including:

“This year has been one of many important developments,” says Yuriy Namestnikov, a security researcher at Kaspersky. “Just as we predicted at the end of 2018, it has seen the emergence of new cybercriminal groups like CopyPaste, new geography of attacks by Silence group and cybercriminals shifting their focus to data that helps to bypass antifraud systems in their attacks. Behavioral and biometrics data is on sale on the underground market. Additionally, we expected JS-skimmer base attacks to increase and they did. With 2020 on the horizon, we recommend security teams in potentially affected areas of the finance industry to gear up for new challenges. There is nothing inevitable in potential upcoming threats, it is just important to be properly prepared for them.”

In addition to financial sector, Kaspersky researchers identified other industries that will face new security related challenges in the upcoming year:

The full list of Kaspersky Vertical Threat Predictions for 2020 is available on Securelist.com.

This list of predictions is a part of the Kaspersky Security Bulletin (KSB) annual series of predictions and analytical articles on key changes in the world of cybersecurity. Follow this link to look at other KSB pieces.

To look back at what the Kaspersky experts expected to see in 2019, please readhere.

About Kaspersky

Kaspersky is a global cybersecurity company founded in 1997. Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative security solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection and a number of specialized security solutions and services to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky technologies and we help 270,000 corporate clients protect what matters most to them. Learn more at usa.kaspersky.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191203005706/en/

CONTACT: Cassandra Faro

Cassandra.Faro@Kaspersky.com

781-503-1812

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: DATA MANAGEMENT BANKING ONLINE RETAIL TECHNOLOGY PROFESSIONAL SERVICES SECURITY RETAIL SOFTWARE INTERNET MOBILE/WIRELESS FINANCE

SOURCE: Kaspersky

Copyright Business Wire 2019.

PUB: 12/03/2019 10:01 AM/DISC: 12/03/2019 10:01 AM

http://www.businesswire.com/news/home/20191203005706/en