New ‘SpyEye Trojan’ Banking Virus Steals Your Money, Hides Fraudulent Transactions

While checking your bank account from your computer has become a generally accepted means of banking a security firm in Israel is now warning customers that such actions could drain their bank accounts.

According to the firm a new virus known as the “SpyEye Trojan” is able to capture a users bank login information as they type in their username and password and then use that information to make fraudulent purchases.

If the program ended there it would be nothing more than a typical keylogger virus, however creators of the new virus have figured out how to also trick the user by hiding any fraudulent transactions they have made.

The sophisticated virus program basically hides transactions when a user logs into their bank account from the infected computer. For example if you have $1000 in your account and the fraudster makes a $500 purchase that transaction is hidden via your online banking account and you are still shown to have $1000.

The next time you log in from another non-infected computer or check your balance at the bank or an ATM however you will quickly discover that your money is missing.

According to the security firm responsible for the find, the virus is already being used in real world situations and until banks figure out how to stop the program it is expected to spread rapidly.

Sometimes an ATM balance check or a balanced ledger just makes more sense. Do you take extra precautions to secure your computer when it comes to viruses such as the SpyEye Trojan?

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