FBI Investigates Cyber Fraud That Put Businesses Out of $85 Million
September 20, 2011
Total Loss:
$85 Million
The FBI’s Cyber Division is looking into more than 400 reported cases of corporate account takeovers, Cyber Division Assistant Director Gordon Snow told the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit in Sep. 14 testimony.
The cases involve unauthorized ACH and wire transfers from the bank accounts of U.S. businesses, which typically began with phishing e-mails sent to employees within targeted companies, who unknowingly installed malware by opening attachments or links, Snow said in the testimony.
Criminals stole approximately $85 million from their victims, but attempted theft of more than $255 million, the FBI said.
Source:
Credit Union Times
Posted in:
ACH and Wire Fraud