Communications Authority warns of new malware targeting financial institutions

Communications Authority of Kenya is warning of a new malware called EMOTET that is targeting financial institutions.

Through a public notice the authority says 11 cases targeting local institution have been reported.

Cyber security expert Bright Gameli urged financial institutions to reduce the use of macrons since it is susceptible to the malware.

According to a statement by the Communication Authority of Kenya the Emotet malware is an advanced and destructive banking Trojan affecting network system and so far it has detected 11 cases targeting local institutions.

Emotet is disseminated through malicious email attachments or links posing as invoices, payment notifications and bank alerts.

IT expert Bright is warning institutions using computational software against using macrons as the software is susceptible to Emotet malware attacks.

He urged financial institutions to monitor and scan emails with numerical information before opening them.

The Authority is urging financial institutions to update their security systems as the Emotet malware is encoded to evade security systems.