A malware called Subzero was found by Microsoft’s security team that targeted banks and law firms

A malware called Subzero was found by Microsoft’s security team earlier this week, which was developed by Vienna-based company DSIRF, and was deployed in 2021 and 2022. An investigation was going on where they were investigating a report they issued that an Austrain company has developed spyware targeting banks, law firms, and consultancies in at least three countries, Austria said.

Observed victims, according to a blog post published on Wednesday, “include law firms, banks, and strategic consultancies in countries including Austria, the United Kingdom, and Panama.”.

There were no complaints of issues, according to Austria’s interior minister. “Naturally, the DSN (intelligence agency) looks into the allegations. There is currently no proof that the identified company’s monitoring software has been used.” It was said in a statement. Subzero “was designed exclusively for use by authorities in EU states,” according to DSIRF, which was reported by Austria’s Kurier newspaper. It was not a commercial product. No harm had been done to it.

Although it was aware of the company, the Austrian interior ministry claimed that it “had not had any economic connections” with it. The Pegasus spyware developed by Israel’s NSO Group has allegedly been used by governments around the world, including those in the EU, to spy on rivals, according to a number of media outlets over the course of the past year.

Budapest and Warsaw countered that the deployment of Pegasus was justified by reasonable considerations of national security.