Trusteer uncovers new method used to infiltrate online banks

Boston-based Web security firm Trusteer has uncovered a new scheme to raid online banking accounts. In this newly discovered method, the bad guys steal the mobile device SIM details during an online transaction, get the existing SIM canceled and replaced with a new one.

Here's how it works: thieves use the Gozi trojan to steal IMEI numbers from bank account holders when they login to their online banking application. As the bank uses an OTP system to authorize transactions, when they've got the IMEI number, attackers call the service provider, report the device missing or stolen and ask for a new SIM card. With the newly obtained SIM, all OTP transactions intended for the victim's phone will be sent to the attacker instead. More details will be posted on the Trusteer blog this Thursday.