Automated Bank Hack Software Made £50m Last Year Without Lifting a Finger

By Gary Cutlack on at

Fully automated software earned its underground creators around £50million over the last year, as updates to the Zeus and SpyEye malware managed to steal bank account details, login and transfer money away from its owners.

The most recent versions of the malicious tools have evolved. Rather than just nicking numbers and passwords and sending them off to be used or sold on, they're now able to sign in using the details they've just nicked, plus they avoid triggering alarm by transferring out small amounts of money rather than emptying the entire account. Would you notice another £7.99 disappearing from your account? Probably not.

What's even more shocking is that the automated hacking software can get around some forms of two-stage verification, like the chip & pin options favoured by some banks nowadays, with security firm Trend Micro saying it's seen such advanced automated hacks being triggered and working in Germany, the UK and Italy.

Plus there might be security holes within the banks themselves, according to Dave Marcus, research director at Mcafee Labs, who said: "Someone designing this system has insider knowledge as to what the banks are looking for." [Reuters]

Image credit: Banks from Shutterstock