Formjacking – Trick of Cyber Criminals to Steal Payment Data

Forget Ransomware and Phishing – Formjacking is the New Favorite Hack of Cyber Criminals to Steal Payment Data

Data protection is no longer just a technology issue—its commercial and political impact is far-reaching.

Leveraging the fear of phishing and ransomware campaigns, cyber-attackers have found a new way to commit cyber-crime.

Each month, thousands of online retail websites are targeted by cyber crooks, who insert a small piece of malicious code that permits them to snatch customers’ credit card details. 

The hacking technique is recognized as Formjacking, and it’s the virtual equivalent of employing a device on an ATM to skim debit card numbers.

Affecting an average of 4,800 websites per month, formjacking is among the newest technique for cyber-attackers to steal both personal and financial data, according to the cybersecurity experts.

Small and medium-sized businesses are the biggest targets of formjacking although big-name brands including Ticketmaster and British Airways have also been victims of attacks.

The British Airways attack alone may have netted criminals more than $17 million.

“Formjacking represents an immense threat for both businesses and consumers,” according to the cybersecurity analysts.  

“Consumers does not have any method to know if they are visiting an infected retailer website without using a comprehensive security solution, leaving their valuable financial and personal information vulnerable to potentially devastating identity theft.”

Formjacking attacks have become a lucrative choice for cybercriminals to load malicious code onto retailers’ websites & steal shoppers’ credit card details.

The cyber researchers’ report says that cyber-attacks yielded tens of millions of dollars to cyber crooks by using credit card information or selling the numbers on the dark web for around $45 each.

Also Read: How to Remove MapsFox Adware from Your Computer?

Where does your protected information go?

You’ve heard about the dark web—a subgroup of the deep web of the Internet that can only be reached using definite software and authorizations. On it, there are sites that sell counterfeit money, drugs, hacking software, and your personal information.

But what types of both personal & financial information actually gets sold and commoditized there?

The latest news reports that personal login details for some of the world’s biggest brands as well as the video game Fortnite are offered on the dark web.

In addition to login creational, identity documents such as banking details, drivers’ licenses, and passport details are also for sale, which could cause havoc on an individual if compromised.

We offer these helpful reminders for individuals to protect their information:

• Use Strong and Hack Proof Passwords

A unique password is all that may stand between you and a cybercriminal and can protect you from extremely compromising situations in the long run.

If you’re worried about remembering tons of complex passwords, you might need to use a password manager that keeps all of your more detailed logins under one roof.

• Never download spam junk attachments from unsolicited or unknown senders

These cyber crooks can get into your system through malicious junk attachments, and download links present the body of the mail. 

It doesn’t take much for cyber-attackers to scour hacked email accounts for personal details and sensitive information that can then be used as gateways to further fraud.

• Use Multi-Factor authentication

A wide variety of websites support two-factor authentication today, including Gmail, Dropbox, and most banking and financial websites.

• Keep Windows OS and other security programs up and running

An out-dated or corrupted Windows OS or software could be a cybercriminal’s doorway to your system. An outdated software application contains vulnerabilities which can be easily exploited by the hackers to insert the malicious programs on your system.

Conclusion

Nowadays, cyber attackers have learned to make their malware more adaptable, resilient and more destructive and continuously improving their arsenal by developing new skills to attack financial groups and individuals. Common antivirus security suite cannot safeguard you against all cyber threats at the same time.

Thus, we need to widely upgrade our cyber defense systems and practices to more effectively guard against cybersecurity threats, as well as to respond in a timely and robust manner to prevent any intrusion in the future.

Note* - We recommend ITL Total Security and Malware crusher, among the best reputed anti-malware software which will help you to block Trojan, viruses, adware and other malware on your PC by creating a 24X7 shield against any cyber risk.

It consists of many useful features like Real-Time Protection, Web Protection, Live updates, Invalid registry cleaner, and many more to preserve your system from damage and keep you safe always. 

Tips to Prevent virus and malware from Infecting Your System: