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.