Businesses must guard against latest trends in IT fraud

18:50 10th December 2008

The Malicious Code Research Centre (MCRC) has identified emerging and established trends in online fraud and has urged business to invest in IT training to keep ahead of IT fraudsters.

It reveals that previously secure PDF and Flash files are being used to distribute malware capable of infecting PCs as cyber-criminals become increasingly creative in their attempts to infiltrate data banks.

The report also warned that a growing number of newly unemployed and disaffected IT professionals could be seduced into the world of IT crime.

Yuval Ben-Itzhak, chief technology officer of Finjan, a web gateway solutions company which commissioned the research, commented: "Using rich content applications such as Flash files to distribute malicious code has become the latest trend in cyber-crime.

"Having the widespread distribution and the popularity of Flash-based ads on the web, their binary file format enables cyber-criminals to hide their malicious code and later exploit end-user browsers to install malware."

According to the UK fraud prevention service, CIFAS, identity fraud is closely linked to organised crime.