Trenmicro observed five malware family (Elibomi, FakeReward, AxBanker, IcRAT, and IcSpy) involved in these attacks
"We analyzed that the bank customers targeted include account subscribers of seven banks, including some of the most well-known banks located in the country and potentially affecting millions of customers. Common among these routines include the abuse of the legitimate banks’ logos, names, and affiliated brands and services to convince victims that their respective phishing sites are affiliated. This blog entry will discuss three of the identified banking malware families and their latest changes (as IcRAT and IcSpy have been documented): Elibomi is an old malware that has evolved into a fully equipped banking trojan, while FakeReward and AxBanker are newly discovered banking trojans. Bank clients are advised to remain vigilant against these kinds of threats, and to protect their information and devices from malware infections."
TrendMicro said in a report published in November
The entry point of these attack strat from a text message with a link mostly phishing link or malicious application download link where attacker get the PII (personally idetifiable information) and credit card information to provide income tax refund or credit card reward points.
Trend Micro said they are not sure that which cybercriminal behind all five malware family but they are sure that they seen massive aggressive development and no evidence found that these malware family target any customer outside india.
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