The Invisible Threat Banks Should Know Of
October 14, 2015
by Chemi Katz
85 percent of US consumers have banked online in the past 30 days according to Nielsen. 10 percent of consumers are using their mobile devices to pay bills, either directly or through their bank.
Just take a moment to consider the impact of those numbers.
You’ve taken extreme measures to protect your servers, ensuring the safety of your customers. But what happens when the threat is coming from the consumer’s device rather than from you? This is the reality of client-side injected malware (CSIM) and it’s changing the way that banks do business online.
When banks build websites they do so with every ounce of security that they can muster. There are layers upon layers of protections put in place to keep the bank and their customers safe. But when the threats come from the outside, from customer’s devices, there has never been a way to protect a website’s interest until now.
The threat of CSIM is multifaceted. The most obvious issue for banks is the danger of someone injecting code that can then cause havoc for the bank or its users. But what if your website suddenly started displaying ads for a competing bank with better loan terms, or even ads for porn and gaming? How much business would you lose? Or even worse, consider the damage that can be done if someone logs in to their bank only to find out that their identity is stolen soon thereafter. You can almost bet that the bank, which requires the most sensitive information, would be where the blame is placed.
Client side injected malware allows an attacker to build an open door wherever they please, and to funnel any information that they want through it. It is, worst of all, the most difficult of malware types to intercept because it lives on the client’s device.
Fortunately there’s Namogoo. With a simple and quick integration, Namogoo gives your bank enterprise-grade protection against CSIM. Our machine learning algorithms go to work spotting and preventing CSIM attacks long before they happen. The end result? Everything works just as it should. The only evidence you’ll see is in your Namogoo dashboard where we show you the threats that have been stopped and keep you up to date with all of the information that we’ve gathered.
Banking is an industry of trust. Your customer’s safety and security is far too valuable to risk. Let us help you keep that trust with Namogoo.