FBI Warns of Massive Wire Fraud Scams
May 3, 2011
Total Loss:
$11 Million
The FBI is warning businesses about an ongoing spate of attacks that are stealing millions of dollars from companies through unauthorized bank transfers to Chinese companies. The fraudulent wire transfers are not a new tactic, but the FBI says the current round of attacks is notable in that virtually all of the transfers are going to shell companies based in China and have cost U.S. businesses $11 million.
The FBI on Tuesday issued a detailed warning--an unusual step for the bureau--about the specific type of wire-transfer scam that it's been seeing for a little more than a year now. The way that the scheme works is pretty simple. An attacker somehow compromises a PC belonging to a user at a given company who has access to the company's online banking account. The attack often is a drive-by download or ...
Source:
Threat Post
Posted in:
ACH and Wire Fraud
Collusive Networks