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Rogue antivirus – also known as scareware – is one of the top PC security threats in Canada and proving an effective method for online fraudsters to profit from their exploits, say security experts.

The malware tricks victims into thinking their computer is infected and provides a fake piece of software to fix the problem.

After giving away credit card information and downloading the software, the victim actually is opening up a direct gateway for more malware to be loaded onto the computer and becomes a prime candidate for identity theft. The double-whammy attack is proving effective and becoming more popular among hackers.

Microsoft Corp.'s security products removed scareware programs from 7.8 million computers worldwide during the second half of 2009, an increase of 46.5 per cent from the previous six-month period. That suggests scareware is providing better payoffs to cyber-criminals than other types of malware, according Microsoft Security Intelligence Report Volume 8.

“The biggest threat facing Canadian PCs is fake security software,” says Mohammad Akif, national security and privacy lead with Microsoft Canada Inc. in Missisauga, Ont.

Source: itbusiness.ca