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BAE Systems Detica reveals that Shylock malware – one of the world’s most sophisticated cyber threats – is firmly targeted at the UK

Shylock Malware Protection
Worryingly for the UK, Shylock is operated by professional cyber criminals working a five-day week, can remain undetected and has serious ‘future upgrade’ potential.

BAE Systems Detica today announces that cyber criminals are targeting the UK with one of the world’s most sophisticated pieces of malware. The Shylock malware is one of the fastest growing threats posed by cyber criminals today, and its creators have built a platform over the last two years that allows them to commit large scale targeting and theft of sensitive banking data.

The criminal gang operating the malware is currently targeting a small number of geographic regions and worryingly the UK has been a priority target. Detica’s research shows that the malware is being distributed through compromised legitimate websites, and from a sample of over 500 identified, 61% of them were UK websites. Furthermore, over three-quarters (80%) of the banks being targeted over the past two years have been UK banks.

The research, unveiled today, also illustrates the advanced techniques the Shylock malware creators have used to remain undetected by traditional security defences. There are even clues which suggest the operators are working a five-day week, indicating that these are professional and well-organised criminals.

Detica’s analysis of the malware also reveals that its modular framework allows a serious ‘future upgrade’ potential and is consequently likely to return in different guises.

Shylock is typical of the increased shrewdness of cyber attackers over the past year, which has seen a shift towards ‘drive-by’ or ‘watering hole’ attacks rather than conventional phishing e-mails. The shift underlines the agility of cyber attackers to adapt when previously successful avenues are closed off by improved security. 

David Bailey, Chief Technical Officer, Cyber Security at BAE Systems Detica said:

“Today’s revelations are a reminder of the agility of malicious cyber criminals and the fact that the UK is a prime target for damaging cyber attacks. The Shylock malware is highly sophisticated, and it is only through intuitive threat intelligence work  and the continuing evolution of our cyber security technologies that its exact characteristics have been successfully detected.

“Counteracting the threat posed by Shylock will rely on co-operation from multiple entities including the security research community, industry groups, the finance sector, and international law enforcement. Raising awareness of how the threat actors operate is the first step in this process.”

In order to help raise awareness of the malware, Detica is not just highlighting the criminals’ techniques but also providing actionable intelligence which allows organisations to identify compromises, and law enforcement to pursue the perpetrators.


 -Ends-

Media Contacts:
Natasha Davies, Global Head of Media, BAE Systems Detica:
Tel: +44 (0)20 7812 4274
Mobile: +44 (0)7787 297 831
Email: natasha.davies@baesystemsdetica.com

Charlie Eccleshare and Stephanie Noon at Blue Rubicon, on behalf of BAE Systems Detica,
Tel: +44 (0) 20 7260 2700
Email: detica@bluerubicon.com
charlie.eccleshare@bluerubicon.com
stephanie.noon@bluerubicon.com

Notes to editors

About BAE Systems Detica

BAE Systems Detica delivers information intelligence solutions to government and commercial customers and develops solutions to strengthen national security and resilience.
Detica is part of BAE Systems, a global defence, aerospace and security company with approximately 90,000 employees worldwide.
BAE Systems delivers a wide range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. For more information, please visit www.baesystems.com