New strain of trojan EventBot can clear out bank accounts

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Researchers are reported to be analysing EventBot, a new strain of Android malware that does not yet exist in the wild.

New strain of trojan EventBot

Cybereason researchers did this by observing submissions to virus detection site VirusTotal not from the general public, but from one source presumed to be cyber thieves testing whether the trojan would be spotted.

Its creators call the malware EventBot, though if it is released it could be disguised within other apps that claim to be games or utilities, or marketed as a component to other criminals. In the Cybereason report, the researchers describe

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Federal Reserve scraps transfer limits on bank savings accounts

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FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis

WASHINGTON (Reuters) – The U.S. Federal Reserve announced Friday that banks can now allow account holders to make an unlimited number of withdrawals and transfers from their savings accounts.

The central bank updated its rules to scrap the six-per-month limit that had previously existed for such accounts. The Fed said the move would help ensure people can access their funds “at a time when financial events associated with the coronavirus pandemic have made such access more urgent.”

The Fed said it

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