Security vendor Deep Instinct has detected malware that targets Microsoft Outlook and has compromised more than 250 million email accounts.

The banking industry is increasingly becoming a favourite among cyber criminals, according to security vendor MailGuard, which has detected a new phishing email scam purporting to be from Westpac.

Cyber criminals continue to use email as a primary vehicle to steal data and deliver advanced threats, according to one security firm which reveals that phishing attacks targeting email users were the most prominent type of cyber attack globally in 2018.