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Chinese Hackers Using Deepfakes in Advanced Mobile Banking Malware Attacks

Chinese Hackers Using Deepfakes in Advanced Mobile Banking Malware Attacks

Feb 15, 2024 Banking Trojan / Cybercrime
A Chinese-speaking threat actor codenamed  GoldFactory  has been attributed to the development of highly sophisticated banking trojans, including a previously undocumented iOS malware called GoldPickaxe that's capable of harvesting identity documents, facial recognition data, and intercepting SMS. "The GoldPickaxe family is available for both iOS and Android platforms," Singapore-headquartered Group-IB  said  in an extensive report shared with The Hacker News. "GoldFactory is believed to be a well-organized Chinese-speaking cybercrime group with close connections to  Gigabud ." Active since at least mid-2023, GoldFactory is also responsible for another Android-based banking malware called  GoldDigger  and its enhanced variant GoldDiggerPlus as well as GoldKefu, an embedded trojan inside GoldDiggerPlus. Social engineering campaigns distributing the malware have been found to target the Asia-Pacific region, specifically Thailand and Vietnam, by masquerading as
Chinese Face-Swapping App ZAO Sparks Privacy Concerns After Going Crazily Viral

Chinese Face-Swapping App ZAO Sparks Privacy Concerns After Going Crazily Viral

Sep 03, 2019
What could be more exciting than seeing yourself starring alongside your favorite actor in a movie, music video, or TV program? Yes, that's possible—well, kind of, by using a new AI-based deepfake app that has gone viral in China over this weekend, climbing to the top of the free apps list in the Chinese iOS App Store in just three days. Dubbed ZAO , the app is yet another deepfake app for iPhone that lets you superimpose your face onto actors like Leonardo DiCaprio, Kit Harrington from "Game of Thrones," and many others in video clips from their popular movies and TV shows with just a selfie uploaded by you. Developed by Chinese developer MoMo, one of China's most popular dating apps, ZAO was released on Friday (August 30) and rapidly got downloaded millions of times with users being excited about the experience for the app's realistic face-swapping videos that last for as little as 8 seconds. ZAO Deepfake Face Swap App Sparks Privacy Outcry Howeve
Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl
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