China Breaches Prove Authentication is Too Easy to Defeat
May 5, 2011
Total Loss:
N/A
ACH Fraud: A Cat & Mouse Game
China Breaches Prove Authentication is Too Easy to Defeat
It's been a week since the Federal Bureau of Investigation issued its warning about ACH and wire transfers being routed to China. [New Wave of Wire Fraud Strikes Banks].
The scheme targets U.S. small business accounts, usually held at small banking institutions. And how are fraudsters hitting the accounts? By unleashing Zeus, Backdoor.bot and SpyEye on unsuspecting commercial customers who, rightly or wrongly, click on links and open attachments that expose them to ...
Source:
Bank Info Security
Posted in:
ACH and Wire Fraud
Collusive Networks