KUALA LUMPUR: The payment system remains most targeted by financial phishing attempts in Malaysia with March 2022 recording the highest detections of the threat at 41.09 per cent, Kaspersky said.
The global cybersecurity company said February 2022 witnessed the cybercriminals eyeing to victimise users through banking, payment system and online shopping at 52.43 per cent, just 1.57 per cent lower than the overall Southeast Asia region in terms of finance-related phishing attempts.
"The percentages are from anonymised data based on the triggering of the deterministic component in the Kaspersky's Anti-Phishing system on user computers," it said in a statement today.
It said the component detected all pages with phishing content that the user has tried to open by following a link in an e-mail message or on the web as long as links to these pages are present in the Kaspersky database.
It said banking and payment system phishing attempts might have been lower since April 1, 2022.
"This was the announced start of Malaysia's border reopening to international travellers as well as for Malaysians to travel abroad without the need to quarantine," it said.
However, it said online shopping phishing attempts went up in April to 8.67 per cent with the possibility of many looking into online deals that might have promised lucky draws.
It said phishing has remained to be the most effective trick on cybercriminals' sleeves as is a known way to crack into a user's or even a company's network by playing on a user's emotions.
"A possible scenario is given that one app has all the financial details of a user, a simple phishing link asking for the user's credentials can compromise all the data available in the app.
"This magnifies the possible damaging effects of this threat," it said.
Southeast Asia general manager Yeo Siang Tiong said Kaspersky also saw the rise of "Super Apps" in Southeast Asia alongside the increased adoption of digital transactions in the region.
"These are the mobile applications that combine all popular monetary functions including e-banking, mobile wallets, online shopping, insurance, travel bookings and even investments.
"Putting our data and digital money in one basket can trigger an aftermath snowball with the impact of a phishing attack swelling at an unforeseeable rate," he said.
He said cybercriminals are known to follow the money trail, therefore, it is important for banks, app developers and service providers to integrate cybersecurity from the beginning of application development.
"We expect hackers to target the rising "Super Apps", both its infrastructure and its users through social engineering attacks.
"We urge all fintech companies to deploy a secure-by-design approach in their systems and to continuously provide proactive education for their users in this period where phishing attacks continue to thrive," he added.
-- BERNAMA
Bernama
Mon Jun 20 2022
The payment system remains most targeted by financial phishing attempts in Malaysia with March 2022 recording the highest detections of the threat at 41.09 per cent, Kaspersky said. - Astro AWANI
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.