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"Government regulation is the only way this is going to happen," William Malik, vice president of infrastructure strategies at Trend Micro said on the panel. "Automobiles didn't get safer until the government regulated them."

The first half of the year saw a continued surge in ransomware, Business Email Compromise (BEC) and other threats, with Trend Micro blocking over 38 billion during the period, it claimed in a new report.

All that information packaged together sells for upwards of $30 per identity on online black markets, according to Mark Nunnikhoven, head of cloud research for cybersecurity firm Trend Micro.

Trend Micro researchers first spotted the banking malware using network sniffing to steal data back in 2014 and recently spotted an increase in activity in August 2017 coming from new variants that all had the potential to unleash different types of payloads

The mobile edition of the Pwn2Own hacking contest is returning for its sixth year, with a prize pool of $500,000 and new targets for security researchers. Pwn2Own is operated by Trend Micro's Zero Day Initiative (ZDI) and has both desktop and mobile events.