New botnet steals account credentials to login to banking sites

A new botnet has been discovered that collects account credentials from users on popular sites and then tries the logins it has acquired on bank login pages.

This new tactic is quite clever in the way that it is able to avoid setting off botnet detection and the rate-limiters that most modern banks have in place. These same security measures are generally not present on the rest of the web which allows the botnet to collect passwords and prey on users guilty of password re-use.

It also has a high rate of possible success since anywhere from 15 to 60 per cent of users re-use their passwords across multiple sites for the sake of convenience. Many users also select easy to remember passwords that are often re-used as opposed to complex and unique passwords. Password lockers are also often overlooked by the average internet user.

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