Ousaban, a Brazilian banking trojan also known as Javali, is targeting Windows users in Spain and Portugal through phishing PDFs that trick victims into downloading malware hidden inside an image file using steganography. Once installed, it monitors banking activity, capturing keystrokes and screenshots, and gives attackers remote control to hijack live banking sessions at over two dozen Iberian banks. The campaign uses geofencing to restrict delivery to genuine targets in the two countries, and evades detection through a rotating daily command server address and a custom encryption scheme that has proved resilient for years.