Threat Management, Incident Response, TDR

Corporate bank fraud losses expected to total $210M

Businesses in North America are expected to lose $210 million this year to corporate bank account takeovers, according to a new report from financial research and consulting firm Aite Group. The report, “Banks and Business in the Crosshairs: Cybercrime and Its Impact,” estimates that losses from these seizures, by which hackers gain control of online bank accounts to make unauthorized transfers, will grow to $371 million by 2015. Moreover, the number of new, unique strains of malware released each year is expected to increase – from 25 million by the close of 2011 to 87 million by the end of 2015.

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