The latest version of the Zloader banking malware is (also) exploiting a Microsoft Signature Verification bug (CVE-2013-3900) for which the bugfix exists since 2013 (see for example here for more details). In this case the security issue is not due to users not updating their systems with the mandatory security patches but to the fact that the patch is optional and should be installed manually.
The problem is that the stricter signature verification implemented by the Microsoft Authenticode patch which fixes this bug, has an extremely high risk of false positives in many situations, for example some installers can be identified as having an invalid signature. So Microsoft decided to let the user decide if the patch would create more problems than solving some.
The Zloader malware uses this “bug” to be able to run some modified (and then unsigned) libraries. But this requires that the malware is already on the system, so applying this patch does not prevent a system from being infested by this malware.
The issue that, again, this event points out, is how difficult it is to balance strict security, in particular if cryptography is involved, and usability / availability of systems and services.
I have been reading this article by Ars Technica on smartphones’ 2FA Authenticator Apps and put it together with some thoughts about Hardware Security Keys (implementing the U2F [CTAP1] standard by the FIDO Alliance). In both scenarios, the security of the Second Factor Authentication (2FA) is based on the confidentiality of a cryptographic private key in the first case hold securely in the smartphone and in the second case in the USB hardware key. In other words, the private key cannot be read, copied or transferred to any other device, as it is also for any smart card (or integrated circuit card, ICC) or any Hardware Security Module (HSM).
Good for Security, but what about Availability?
Consider this very simple (and secure) scenario: my smartphone with a 2FA Authenticator App (or alternatively my U2F USB key) utterly breaks down: I have no way, at least given usual economical and time constraints, to recover it.
Now what about access to all those services which I set up in a very secure way with 2FA?
There is no access and no way immediately available to recover it! (But see below for more complete scenarios.)
The only possibility is to get a new hardware and perform a usually manual and lengthy process to regain access to each account and to configure the new hardware 2FA.
So Availability is lost and it could take quite some time and efforts to regain it.
The article by Ars Technica mentioned above, describes how some 2FA Authenticator Apps provide a solution to this problem: the idea is to install the App on multiple devices and securely copy the secret private key on each one of them. But now the secret private key, even if encrypted itself, is not anymore “hardware protected” since it is possible to copy it and transfer it. So Security/Confidentiality goes down but Availability goes up.
This process is obviously impossible as such with U2F hardware keys. In this case an alternative is to have multiple U2F hardware keys registered with all accounts and services so that if one key breaks one can always use a backup key to access the accounts and services. (For more info, see for example this support page by Google.)