Massive Phishing Campaigns Target India Banks’ Clients

Trend Micro researchers observed an uptick in attacks targeting bank customers in India, the common entry point being a text message with a phishing link. The SMS content urges the victims to open the embedded phishing link or malicious app download page and follow the instructions: To fill in their personally identifiable information (PII) and credit card details to allegedly get a tax refund or credit card reward points. As of this writing, Trend Micro observed five banking malware families involved in these attacks, namely Elibomi, FakeReward, AxBanker, IcRAT, and IcSpy.

Trend Micro researchers analyzed that the bank customers targeted include account subscribers of seven banks, including some of the most well-known banks located in the country and potentially affecting millions of customers. Common among these routines include the abuse of the legitimate banks’ logos, names, and affiliated brands and services to convince victims that their respective phishing sites are affiliated. This blog entry will discuss three of the identified banking malware families and their latest changes (as IcRAT and IcSpy have been documented): Elibomi is an old malware that has evolved into a fully equipped banking trojan, while FakeReward and AxBanker are newly discovered banking trojans.

Bank clients are advised to remain vigilant against these kinds of threats, and to protect their information and devices from malware infections.

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Source: Trend Micro