With the age of the internet upon us, it’s never been easier to access bank accounts. You no longer have to drive to your bank’s brick-and-mortar establishment. You can now access your bank account over the internet. Statistics show that over 65% of the U.S. population uses online banking.

While online banking is convenient, though, it carries the risk of cyber attacks. There are banking trojans, for example, that can steal the login information to your account. If you’re going to use online banking, you’ll need to protect your login information from banking trojans.

Overview of Banking Trojan

A banking trojan is a type of malware that’s designed to steal the login information to the victim’s bank account. Like all trojans, they disguise themselves as legitimate programs. You may download a banking trojan without realizing it. When you log in to your bank account over the internet, the banking trojan will capture your username and password while subsequently relaying this data to the hacker who carried out the attack.

How Banking Trojans Work

Banking trojans work in different ways. Some of them have similar characteristics as keyloggers. When you type your username and password in the login box to your bank account, they’ll capture your keystrokes. Other banking trojans will record your screen. In other words, they’ll see all of the text that you type, including your username and password.

There are also banking trojans that rely on social engineering or “phishing” to deploy themselves. Regardless, all baking trojans are designed to steal the login information to your bank account.

Tips to Protect Against Banking Trojans

You can protect against banking trojans by keeping your computer updated. Running the latest operating system (OS) version, for instance, will lower your risk of sustaining a banking trojan attack. Outdated OSs often contain vulnerabilities. A hacker may exploit a vulnerability in an outdated OS to deploy a banking trojan. Ensuring that your computer’s OS, as well as all other software, is updated will lower the risk of an attack.

While banking trojans aren’t viruses, you can use antivirus software to protect against them. Antivirus software doesn’t just protect against viruses; it protects against a variety of malware types, including trojans.

You may want to avoid accessing your bank account from different devices. Each device is an endpoint. And it only takes a single compromised endpoint to expose your login credentials to a hacker. Rather than using multiple devices, stick with a single device when accessing your bank account.

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