Security researchers at RSA warned Thursday that a sophisticated plan is being hatched online to raid the bank accounts of customers at some 30 banks in the United States.
In a major victory for organizations that have sustained massive losses due to unauthorized transactions made by hackers, an appellate court has ruled in favor of a Maine construction company against its bank.
According to an amended complaint filed last week in U.S. District Court in Brooklyn, Microsoft has named two defendants in its Zeus civil lawsuit who previously were listed as "John Does." They currently are in prison.
A new attack method, automatic transfer system (ATS), is being used in conjunction with popular crimeware kits to create "man-in-the-browser" assaults on bank accounts.
Financially minded cyber criminals are attempting to hijack corporate bank accounts at increasing rates, but they are finding less luck in actually getting money out of them, a new study shows.
Cybercriminals typically ramp up their phishing efforts during the holiday season and following natural disasters, according to the American Bankers Association.
October 14, 2011
Small and midsize businesses have been hit hard by corporate bank account takeovers. But there are easy-to-implement techniques to ensure the criminal passes them over in favor of a lower-hanging fruit.
Despite fresh guidance and quicker fraud detection, the FBI actively is investigating more than 400 cases of corporate bank account takeovers, an official told federal lawmakers last week. Gordon Snow, the FBI's assistant director of the cyber division, told a House Financial Services subcommittee that these cases, in which criminals initiate unauthorized Automated Clearing House and wire transfers from seized accounts belonging to mostly small and midsize businesses, have resulted in the attempted theft of more than $225 million and actual losses of around $85 million. In his remarks, Snow also discussed risks related to ATM skimming, mobile banking and supply chain compromise.
