It’s imperative that companies make cybersecurity awareness, prevention and security practices a part of their culture. As per the studies conducted in the year 2016, 95% of breached records came from only three industries; government, retail, and technology.

The first wave of the campaign stopped on June 10, 2020. The attacker then resumed their campaign on June 11, 2020, spreading an upgraded version of the malware and wreaking havoc. The sample was compiled on Thursday, June 11, 2020 10:39:47 PM UTC and caught by Palo Alto Networks Next-Generation Firewall.

Faced with malware that displayed no additional functionality nor suspicious permissions on top of Accessibility Services, all known security mechanisms failed to trigger any alarm. As a result, DEFENSOR ID made it onto the Google Play store, stayed there for a few months and was never detected by any security vendor participating in the VirusTotal program.

Over the years, bank heists have escalated to virtual hostage situations where cybercrime groups and nation-states have attempted to commandeer digital transformation efforts. Now, as we address COVID-19’s impact on a global scale, it’s clear attackers are putting financial institutions directly in their crosshairs, according to our data.

While organizations in the UAE are aware of the risks, many are not fully prepared. In fact, only 21% of respondents strongly agreed their organization was prepared for a cyber attack, with 43% somewhat agreeing.