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Malware: Are you aware of recognizing and avoiding it?
Malware: Are you aware of recognizing and avoiding it?
Shaun avatar
Written by Shaun
Updated over a week ago

As a customer of a financial institution, you may have heard about data breaches caused due to Malware attacks. These have become quite common nowadays and hence, it is important for you to be aware of Malware attacks and take the necessary precautions to safeguard yourself against Malware.

What is Malware?

Malware is malicious software that executes unauthorized actions on the victim's system without their knowledge.

How does Malware impact you?

Malware can:

  • Steal sensitive information, especially credentials, and financial data.

  • Disrupt business operations and sometimes, also disable significant services offered by companies.

  • Control all applications installed/executing on your device and perform unwanted actions on your device, like accessing or deleting documents, or modifying and erasing information.

  • Sometimes, also lead to hardware failure of your system.

How does Malware spread?

Malware can get onto your personal or office computer/mobile in a number of different ways:

  • When you download free software from the Internet, which may secretly contain Malware.

  • Some legitimate programs may also install other third-party software, which might be secretly bundled with Malware and will be detected as potentially unwanted software.

  • When you visit an unknown website that is infected with Malware.

  • When you click on a fake error message or pop-up window, like false advertisements for installing updates to popular programs, which starts a Malware download.

  • When you open an email attachment or click on an unknown link containing Malware, especially business spam mail to fool the victim.

How do you know if your system has Malware?

Be alert if you observe the following unusual behavior of your application:

  • Unusual transactions, like withdrawal, and application activities, like modification requests for account numbers and password changes on your finance applications.

  • Unusual emails/messages are being sent out without your permission to a large audience.

How to protect yourself against Malware?

  • Regularly update your software and system with new release patches.

  • Install anti-malware and antivirus software on your computer.

  • Do not use your personal laptop for your office work.

  • Regularly change the password and also, enable two-factor authentication (2FA) for your finance-related applications.

  • Regularly check your monthly transaction statement.

  • Report any kind of fraudulent activity related to transactions or any unwanted activities in your account to the financial institution immediately.

  • Never save passwords on a computer or network or in your web browser. Use a secure password manager, if needed.

  • Do not click on suspicious links or download attachments from unknown sources.

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