PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Tax Software App Required for Companies Doing Business in China Is Sophisticated Spyware

By Tim Sloane
July 15, 2020
in Analysts Coverage, Fraud & Security, Fraud Risk and Analytics, Security
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tax Software App Required for Companies Doing Business in China Is Sophisticated Spyware

Tax Software App Required for Companies Doing Business in China Is Sophisticated Spyware

Just two days ago I asked if there was proof that TikTok was stealing data. Well, this isn’t proof but it surely indicts the Chinese government! NBC News reports that Trustwave has discovered tax software mandated by the Chinese government is actually sophisticated spyware. The following excerpt is from the Trustwave Report Highlights:

“Trustwave SpiderLabs has identified a new threat targeting corporations conducting business in China. The victim company is required to install software that will enable payment of local taxes. However, a backdoor is hidden within the software package that provides full remote command and control of the victim system, enabling arbitrary remote execution of code, and a remote shell.

• Through the course of this investigation, we discovered several variations of this backdoor. The first version has a compilation timestamp in 2016 but it does not appear to have been analyzed or categorized prior to 2020. As a service to the security community, we are providing full malware analysis as part of this report and we have named this malware family “GoldenSpy”.

• The hidden GoldenSpy backdoor (svm.exe) is covertly downloaded two hours after the Aisino Intelligent tax software installation is completed. It calls out to a Chinese domain with a reputation of distributing variations of GoldenSpy. Svm.exe exfiltrates basic system information and continuously beacons to a remote server for “updates.” This “update” functionality enables remote execution of arbitrary code and provides remote command execution capability.

• Trustwave SpiderLabs believes that this threat became active in April of 2020, when the ningzhidata[.]com domain first delivered the current version of GoldenSpy. The domain was registered on 22 September 2019.

• Trustwave SpiderLabs was engaged for a threat hunt shortly after our client was compromised, enabling us to disrupt the potential attack early in the kill chain. For this reason, we were not able to gather sufficient TTP’s to confidently attribute GoldenSpy to a specific threat actor group. Therefore, we will refrain from claiming attribution in this report.

• The full scope of this threat is currently unknown, but our client reported that installation of this software was required by their Chinese bank as a prerequisite to paying local Chinese taxes. We believe that all corporations with Chinese operations should investigate for presence of GoldenSpy and remediate if necessary”

Those interested in viewing the report can access it here.

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: ChinaSecuritySpywareTikTokTrustwave

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    privacy open banking

    As Open Banking Fuels Interconnectivity, Privacy Matters More

    April 8, 2026

    ACH Is Thriving, and Banks Are Struggling to Keep Pace

    April 7, 2026
    stablecoins, Klarna

    How Stablecoins Emerged as a Key Element of Cross-Border Payments

    April 6, 2026
    Cross-Border Payments

    How the U.S. Built Its Faster Payments Ecosystem

    April 3, 2026
    Young Latin woman applying powder on her face for beauty blog. Smiling woman sitting at table in cosy room holding powder box and brush looking at phone camera recording video. Make up and cosmetics blogging concept

    TikTok Aspires to Fintech Status with Payments, Credit Bids in Brazil

    April 2, 2026
    small business credit card

    What Banks Get Wrong About Small Business Credit Cards

    April 1, 2026
    embedded payments

    Embedding Payments for Growth: How ISVs Can Scale Through Vertical Focus and Partnerships

    March 31, 2026
    ACH fraud monitoring

    From a Checkbox to a Differentiator: Redefining ACH Fraud Monitoring

    March 30, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2026 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result