Malware Attack Sees Businessman Lose Over $7k In Minutes

Those of you weighing up the pros and cons of endpoint protection may be inspired to make such an investment after hearing how a Malaysian businessman managed to lose more than $7,000 from his company’s bank account following a malware attack.

The man – only known as Mr Phua – was directed to an online banking website by malware on his computer, which then asked him to input his card details, the Straits Times reports.

The incident occurred on August 6th after Mr Phua logged into his business banking account. He was asked to update personal information when redirected to the bogus webpage, including his full card details and the security code on the back of the card.

Although he has made a police report and the case is being investigated, Mr Phua is yet to receive his money – more than two months later.

“I thought it was normal. When I first got my debit card, I did something similar to activate the card. But this time it said it was to update my card details,” Mr Phua was quoted as saying.

The term ‘malware’ is short for malicious software, which helps hackers gain access to a computer or cause damage to it without the owner of said computer knowing. There are several types, such as worms, true viruses, ransomware or spyware – and it’s becoming increasingly sophisticated.

As such, it’s vital that businesses do all they can to protect themselves against attacks. Get in touch with us at In the Cloud IT to find out how we can help.

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