Singapore: An Emerging Target for Cyberthreats and Banking Trojans

IBM X-Force researchers continuously monitor and track the activity and migration of malicious banking Trojans around the world, and they recently observed that Singapore is becoming a rising target for cybercrime.

Due to the country’s unique demographics, which include a mix of Chinese-speaking and English-speaking businesses, many of the attacks seen in western countries as well as malware traditionally aimed at Asian targets have increasingly turned their sights to Singapore.


The trends that affect the country nowadays range from traditional site redirection and content overlay to the more advanced PC and mobile malware that intercept out-of-band authentication elements such as texted verification codes. In fact, just a few months ago the Association of Banks in Singapore warned Singaporean mobile phone users against mobile malware posing as a software update for the popular messaging app WhatsApp.

Why Singapore?

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