Financial Malware


Financial malware is a type of malicious software designed to steal financial information from users, typically by infiltrating computer systems without the user’s knowledge or consent. It is commonly used by cybercriminals to steal sensitive financial data like credit card details, account numbers, or online banking passwords. These malwares often employ techniques like keylogging, phishing, or screen capturing to achieve their objectives.


The phonetic pronunciation for the term “Financial Malware” would be: Financial – /fɪˈnænʃəl/Malware – /ˈmælˌwɛər/

Key Takeaways

Three Main Takeaways About Financial Malware:

  1. What is Financial Malware: Financial malware, or banking malware, is a type of malicious software used by cybercriminals primarily to steal sensitive financial data or money from the victims’ online accounts through unauthorized access.
  2. Common Types of Financial Malware: The most common types of financial malware include Trojans, Spyware, Ransomware, and Keyloggers. The attackers often use sophisticated methods like phishing schemes and infected email attachments or links to distribute them.
  3. Preventing Financial Malware Attacks: It is crucial to have reliable security software installed on your devices, regularly update software and operating systems, be wary of unsolicited communications, use strong unique passwords, and regularly monitor your financial transactions to defend against financial malware attacks.


Financial malware is important to understand because it represents a significant threat in the modern digital landscape, particularly in the context of financial transactions and online banking. These types of malicious programs are designed specifically to steal sensitive financial information, such as credit card numbers, online banking logins, and other valuable data. They often do so in stealthy ways such as mimicking the interface of a legitimate banking application or intercepting web traffic between a user’s browser and their bank’s website. The evolution and sophistication of financial malware underscore the need for robust cybersecurity measures and constant vigilance when conducting financial transactions online. Understanding this term is crucial for both individuals and businesses to protect their financial assets and maintain privacy in the digital world.


The primary objective of Financial Malware, also known as banking malware, is to interfere with financial transactions and steal confidential financial data from individuals or businesses. It is specifically designed to target bank accounts, credit cards, or other financial assets by gaining unauthorized access to users’ devices. The use of such malicious software is highly lucrative for cybercriminals, given the direct financial gain they can achieve, hence its prevalence in cyberspace. It diverts the interests of cybercriminals from merely causing disruption and annoyance to actual monetary theft.Financial malware works by various sophisticated methods such as phishing emails, fake banking apps, drive-by downloads, and even through physical means like card skimmers at ATMs or point-of-sale terminals. Once installed on a user’s device, it can do anything, from stealing banking credentials by tracking keystrokes to intercepting two-factor authentication codes or even taking control of a user’s device for malicious activities. This stolen information, especially in the case of businesses, is often sold on the dark web leading to a further cascading effect of cyber crime. It is therefore critical for internet users to ensure the safety of their online financial activities by using trusted platforms, keeping software up-to-date, and maintaining good cybersecurity practices.


1. ZeuS: ZeuS, also known as ZeuS P2P and SpyEye, is one of the most famous pieces of financial malware. Discovered in 2007, it infects Windows machines, steals banking information, and is controlled via botnets. Users usually contract the Trojan horse malware by downloading an email attachment. The ZeuS botnet was responsible for stealing millions of dollars before being temporarily disrupted by the FBI in 2010.2. Carbanak: Discovered by Kaspersky Lab in 2015, Carbanak is state-sponsored malware focused on stealing banks’ financial information. The malware uses methods like sending employees spearphishing emails, infiltrating a bank’s network, and closely studying the bank’s internal processes. It then mimics the employees’ activities, drawing out money without arousing suspicion.3. Emotet: Originally a banking Trojan detected in 2014, Emotet evolved into a highly versatile threat that primarily distributes other types of malware, including Qakbot and Trickbot, both of which can steal banking credentials. Emotet commonly uses phishing emails to spread and can spread to other systems on the network once it has infected a machine. It was one of the most widespread threats in 2020 before law enforcement took it down in early 2021.

Frequently Asked Questions(FAQ)

Sure, here you go.**Q1: What is Financial Malware?**A1: Financial Malware, also known as banking malware, is a type of malicious software designed specifically to target and steal sensitive financial information, such as online banking credentials, credit card details, and personal identification numbers.**Q2: How does financial malware work?**A2: Financial malware operates by infecting a user’s computer or mobile device, often through phishing emails or malicious websites. It then tracks the user’s activity and captures financial information by logging keystrokes, taking screen captures, or creating fake banking pages.**Q3: Can Financial Malware be removed?**A3: Yes, financial malware can usually be removed with the help of a professional often through the use of an up-to-date, robust antivirus program. **Q4: How can I protect myself from financial malware?**A4: Methods of protection involve always keeping your devices updated, using a reliable security software, not clicking on suspicious links or downloading unverified attachments, and regularly changing your financial passwords.**Q5: Can financial malware result in financial loss?**A5: Yes, if a user’s financial credentials are stolen and used, it can lead to fraudulent transactions, unauthorized access to bank accounts, identity theft, and significant financial losses.**Q6: Is mobile banking safe from financial malware?**A6: No device is completely safe from financial malware. However, taking measures like using trusted banking apps, regularly updating them, and avoiding public Wi-Fi when banking can minimize the risk.**Q7: How prevalent is financial malware?**A7: Financial malware is a growing problem worldwide. It continues to evolve and become more sophisticated, making it an ongoing significant threat in the cybersecurity landscape.**Q8: How can I tell if my device has been infected by financial malware?**A8: Signs of infection might include slower device performance, changes in device behavior, unsolicited password change requests or additional verification layers when accessing financial accounts. If exhibit any unusual activity, a malware infection could be a possibility. **Q9: Does financial malware only target individuals?**A9: No, financial malware can target both individuals and businesses. In fact, businesses often present lucrative targets for cybercriminals due to their large financial transactions.**Q10: Can financial malware spread to other devices?**A10: Yes, certain types of financial malware can propagate themselves and infect other devices connected to the same network as the infected device. Hence, timely detection and mitigation are crucial.

Related Finance Terms

  • Phishing Scams
  • Man-in-the-Middle Attack
  • Cryptocurrency Miners
  • Ransomware
  • Trojan Horses

Sources for More Information


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