Kaspersky findings show 78% increase in Banking Trojan attacks in Egypt

  • At Cairo ICT 2019, Kaspersky has revealed the cyber-threat landscape that Egypt faced during the first three quarters of 2019. 

    The latest findings from Kaspersky Security Network (KSN) have revealed that cyber threats seen in Egypt have increased in the first three quarters of 2019, as compared to the same period last year. The increase noted across threat areas are quite significant, and underlines the need for constant precaution for individuals as well as organisations. Even as the country is investing in raising awareness about the importance of security awareness and infrastructure, the fact is that malicious actors are proactive about finding new dishonest ways for gains, and it is a challenge for the average user to stay safe without expert protection.

    During the period reviewed, Kaspersky experts noticed an increase in banking trojans, with a staggering increase of 78%. As mobile and Internet banking grows in popularity in Egypt, those with ill intent are finding ways to cheat unsuspecting users. Banks and telecom operators continue to invest in security measures to curb the risks associated with cybercrime, but users often inadvertently expose themselves to risk and fraud, unaware of the necessary security measures they need to take when conducting their transactions online.

    To reduce their chances of being impacted by banking trojans, users need to follow precautions such as avoiding transactions over public Wi-Fi and unknown hotspots and checking that their banking applications are installed from trusted sources.

    Ransomware attacks noticed a 40% increase in the first three quarters of 2019, as compared to 2018. Organizations and online users should always be on their guard to protect against ransomware attacks, as these attacks are continuously evolving and nearly doubling every year. In these attacks, the intent is to maliciously access and encrypts a user’s computer or files, and then demands a ransom for their release. With the increase in new ransomware attacks, conducting employee awareness trainings within organisations are absolutely crucial. Kaspersky will be showcasing its Automated Security Awareness Platform, which is an online tool that builds employee’s cybersecurity skill level and effectively boosts the security awareness of employees in organizations.

    Khaled Mohamed, Country Manager for Egypt at Kaspersky said, “As Egypt moves towards becoming more cyber-aware and digitally-driven, we can be certain that over the next decade, the threat landscape is only going to get more active and challenging to navigate. On a positive note, many organisations are leveraging their technology capabilities and cultural understanding to combat cyberattacks and their impact. Industry platforms such as Cairo ICT give Kaspersky the opportunity to engage with partners and customers and help them be more informed and equipped on potential threats that could affect their business operations.”

    Kaspersky experts will be at the company’s stand, Stand 3B3, Hall 3 at Cairo ICT to demonstrate products and solutions, and share their insights on developments across the security landscape in Egypt specifically, as well as the wider MENA region. 

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