Authored by Dickson Woo, Country Manager of Fortinet Malaysia
While threat actors continue to grow in numbers and sophistication globally and locally, a recent malware campaign targeting online shoppers' banking credentials in Malaysia was able to make off with sensitive data despite being fairly unsophisticated. Through social engineering tactics and phishing, the cyber criminals impersonated legitimate businesses and utilised Facebook advertisements to tempt potential victims into downloading Android malware from a malicious website. Victims then had the option to complete payments either via credit card or transferring the required amount directly from their bank accounts.
After picking the direct transfer option, victims were presented with a fake FPX payment page to enter their credentials for eight Malaysian banks.
With the upcoming Hari Raya Aidilfitri celebrations, cyber attackers are on the prowl to capitalise on poorly fortified digital platforms, SMS or emails offering discounts and digital payment platforms for shopping and sending festive monetary gifts, known locally as "duit raya". Malaysians must remain vigilant and protect their sensitive data or personal identifiable information while enjoying the convenience of online transactions.
Here are some tips for Malaysians to improve their cyber hygiene:
For businesses, beyond alerting customers to threats such as phishing, online shopping scams and unauthorised transactions, ensuring their digital architecture is protected is imperative. Through zero trust and AI-powered, automated solutions, businesses will be able to coordinate threat detection in real time across all deployments.
Being proactive on cybersecurity is imperative to engendering confidence. This enables consumers, enterprises and financial institutions alike, to fully enjoy e-commerce and digital finance that is hassle-free. However, a lack of education, vigilance and awareness can lead to a deficit in trust. As we approach the end of the holy month of Ramadan, Malaysian consumers, enterprises and financial institutions must come together to ensure that their mutual dependence on secure digital transactions is not jeopardised.
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