BEWARE! You are spied while banking on internet!


Technology has advanced to such an extent that we now trust our computers in money matters. Coincidently, more than we may trust humans!

It is observed that major internet savvy users have stopped going to bank. Right from filling the forms and online applications to transferring the cash and all the other banking formalities we have started using internet. Let me not talk about the pros of the same. We all are aware of them. However, the overshadowed cons due to favourable pros of this facility need to be brought under notice.

One of the biggest security concerns when using internet banking facility is Keyloggers. In simple words these especially creative people tracking the keys struck on a keyboard from remote, while someone is banking on internet. We might have heard people saying that they have lost money from their account or there are some unknown transactions showing on their bank accounts using their internet banking accounts. This means that their account is being hacked!

Now, a question might arise that how is this possible? This is done secretly so that the person using the keyboard is not aware that his/her actions are being spied on. Key logging can be done from hardware and software-based approaches to electromagnetic as well as acoustic analysis. With is they are able to trace the username, password of the online banking accounts. And can take advantage of that information. It is easily possible by writing simple software applications for key logging. Later, these programs can easily be distributed as a Trojan horse or as part of a virus in the network. To whom-so-ever this virus stuck, is a victim!

Here, something which is not simple for the Keylogger is to install a hidden keystroke logger without being caught and to download the data that has been logged without being traced. Usually these Keyloggers manually connect to a host machine to download logged keystrokes risks being traced. There is always a risk of sending a Trojan to a fixed e-mail address or IP address because it may expose the key logger’s identity. One of the other ways that keyloggers try is by unconditionally writing the crypto Trojan to the last few unused sectors of every writable disk that is inserted into the machine that remain marked as unused, using a USB token. And only the Trojan writer can decrypt the cipher text because only he knows the needed private decryption key.

Hence, we need an alternative to the conventional computer. In year 2008, IBM engineers invented virtual keyboard also known as laser keyboard. Its primary use is when you need to type without a physical keyboard present. It is also used as an additional safety measure from viruses, Trojan and  that might be present in the computer that logs every keystroke from the keyboard waiting for you to type in your password or credit card number. Virtual Keyboards are the best for internet banking. This online application protects your password from malicious Spyware and Trojan Programs.

Presently, there are several programs available in the market today that can be added to any desktop or laptop system to create a virtual keyboard environment. Also, it can be downloaded from internet. Once installed on your computer, it is easy to access. Some times the original keyboard (hardware) is used to active the virtual component and using mouse virtual keys can be typed. Couple of more alternative devices such as head mouse and eye mouse can also be used. Laser technology can also be used to operate the virtual keyboard.

Apart from Virtual keyboard, the other ways to have a safe banking experience online is by using Anti- Keylogger softwares, Live CD/USB, Anti-Spyware, Anti-Virus programs, Network monitors, Automatic form filler programs, One-time passwords (OTP), Security tokens, On-screen keyboards, Keystroke interference software, Speech recognition, Handwriting recognition and mouse gestures, Macro expanders/recorders and so on!

Well, the fact is that effectiveness of countermeasures varies as keyloggers use various techniques to capture data and the countermeasure needs to be effective against the particular data capture technique. Also, there are always possibilities of the Keylogger software authors updating the code to adapt to countermeasures that may have proven to be effective against them. With the increasing advanced innovations, there are more advanced versions of thefts invented…. Or Visa Versa!

The bottom line is BEWARE!

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8 Comments (+add yours?)

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  3. Felix Mittchell
    Oct 03, 2011 @ 01:12:28

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  5. Arminda Pidcock
    Oct 11, 2011 @ 12:26:44

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