"But this new flavor has more potential for success, because it involves stolen debit card numbers used at third-party merchants, creating complex transactions involving multiple banks and multiple security systems."

I read this article, too...but if I understand the quoted text above...plain old banking-on-line isn't the risk. The risk that opens the client to a potential attack lies in the use of debit cards. Wouldn't you agree?

Anne

"My take is that if your computer is infected with financial malware, it's game over anyway," he said. "My takeaway is you need to prevent getting infected with financial malware in the first place."

This seems to be the key. More reason than ever to be vigilant in using one's computer.

"The Trojan horse employs a powerful two-step process to commit the electronic crime. First, the virus lies in wait until a customer with an infected computer visits an online banking site.....".

Anne I have to agree with Bobbie here. My understanding is it is system based.

DA

Further research beyond that article and I agree with you both. But I have to say that the article we both read, DA, is a tad confusing. I've linked a more intense description provided by Trend Micro...with diagrams. ;-)

Boy! If it isn't one thing...it's another. sigh It took me years to agree that on line banking was secure enough that I would consider using it. Now this! But, as both articles point out...good AV programs are the key to protection.

However, after following the TM diagram...I don't think WiFi gives anymore protection against this particular pest. As long as you visit websites or receive email...one still would have the potential for infection. It's not the way one accesses the Internet. It's accessing it in the first place. Agreed? So...as Bobbie points out...it's protective vigilance that's important.

Anne

Here is a link that might be useful: Trend Micro info

Anne,

My Wi-Fi thought was this:

If you had a stand alone Wi-Fi connected system used ONLY (emphasis) for financial matters a user's exposure to risk could be greatly reduced. With no hard-wire connection in the network between the stand-alone and all other general purpose systems an intrusion would then have to originate from the financial sites which of course is not impossible, but highly unlikely. In other words, no cross contamination due to isolation and dedicated use.

Your referred website didn't have a published date anywhere that I could see, and SpyEye has been around in one form or another for a while. Regardless I think it is clear particularity the scenario representations positioned at 12:00(distribution) and 3:00(installed). Thanks for the link.

DA

As the following was established in the first paragraph of Trend Micros's publication...I assumed this was a rather current edition. And, at the very bottom...in wee little letters...the date span of 1998 - 2011 appears.

For clarification...I'm not a Trend Micro user nor am I encouraging it. I used the site just for the definition clarity of this particular pest.

"Trend Micro researchers recently uncovered a cybercriminal operation involving SpyEye that began as early as January 2011. The said operation was orchestrated by "Soldier" (the cybercriminal's handle), who is currently based in Russia. Trend Micro researchers had been monitoring Soldier and his activities since March 2011.>

Copyright (c) 1989-2011 Trend Micro Incorporated. All rights reserved.

As for the stand alone, dedicated WiFi system...I'm still not convinced that it would be any safer. Personally...I don't use any form of WiFi because I've seen that it can be corrupted and I have very little faith in the thought that it's any safer than my hard wired system. But...that's my personal opinion and relates only to me. Each to their own.

Anne

Anne,

You must remember I live in rural America.

In my 1000 sq. mi. county to have someone drive down my gravel back road road and pirate the Wi-Fi network established by my 3G connection, the odds are astronomical.

This desktop is hard wired to the 3G connection with the established Wi-Fi being password protected and with the password not stored. It is not a true hard wiring.

I do wish I had cable or DSL as a viable alternative.

DA

Well...I live in rural America, too, DA...but obviously, not as rural as your area. ;-) I'm indeed blessed to have cable/broadband and have all my communication services bundled. You'd love it! But it's not without its faults...especially when an integral system part blows after work hours and you're trying to complete a brain stormed written piece. Fortunately...my ISP has a dedicated midnight to dawn crew whose duty it is to repair their street side service equipment when such annoyances occur.

However...IMO...I don't believe there's any completely safe access. Some are just a tad better protected than others. Again...IMO...there will never be a time when we all won't have to be on our toes. As many before me noticed...the Internet is the [relatively] new western frontier. Some one's always going to be interested in conquering it...for good or for evil. It seems the challenge is just too tempting to resist.

In the mean time...we all try to stay abreast of whatever the latest info/news is and that's why postings like yours are so important. I spreads the word amongst other users who will now have a more educated opportunity to better protect themselves.

Anne