Banking Trojans clash

Zeus is getting some competition in the pantheon of malicious software designed to steal bank account information, reports Info World.

A would-be developer said he would be releasing a program dubbed Ares to one-up the widespread Zeus banking Trojan. While both programs focus on stealing financial credentials, security experts stress that they can easily be used to infiltrate corporate networks and steal data.

The developer - who took the handle of 'God of War,' joining dozens of other hackers who have used that name - describes the program as a small, lightweight executable that can evade antivirus and be easily placed into PDFs and other exploitable files.

Digicel and Scotiabank have partnered in Haiti to offer mobile banking services that will enable users to perform cash withdrawals, deposits and transfers through their mobile phone, says Jamaica Observer.

The facility named, Tcho Tcho Mobile, will be offered to 20 000 users during the first three months, after which the programme will be expanded while an "extended range of additional mobile money services" are expected to be delivered in the future, according to a press statement issued by Digicel.

Digicel and Scotiabank received final approval for the introduction of TchoTcho Mobile via a letter of non-objection from the Banque de la Republique d'Haiti, Haiti's Central Bank, as well as approval from the Haitian telecoms regulator.

As mobile banking becomes an increasingly popular feature among smartphone users, banks will need to continue to increase security measures to solidify customer loyalty and fight off cyber crime, reveals PNT Marketing Services.

According to a recent study by M86 Security entitled 'M86 Security Labs Predictions 2011 Report,' the list of security concerns was topped by the smartphone and tablet device market, the rise in online banking and a shift toward more sophisticated cyber criminal tools.

Specifically, the report finds that data-stealing Trojan viruses have become more sophisticated and that the rapidly expanding mobile market has led to an increase in mobile malware.