Financial institutions around the world were recently frightened again by news of a massive attack that siphoned nearly $2.5 billion from commercial accounts held at multiple financial institutions in the U.S., Europe and Latin America.

While the media scrambled to hype the emerging story, security experts uncovered enough details to identify this attack as a new twist on several well-known commercial account takeover attacks. The new attack merely automated parts of the Zeus and SpyEye malware that had previously required manual intervention. Obviously, the new automated version is more efficient.

Given the uptick in sophistication, our best assumption is that, eventually, one or more of these attacks will reach your financial institution. The question is what can you do to protect against these new incursions on bank security? 

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