Security Architecture, Endpoint/Device Security, Endpoint/Device Security, Network Security, Security Strategy, Plan, Budget, Vulnerability Management, Threat Management, Malware, Phishing, Endpoint/Device Security, Endpoint/Device Security, Endpoint/Device Security

Official: FBI investigating 400 bank account takeovers

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.

Get daily email updates

SC Media's daily must-read of the most current and pressing daily news

By clicking the Subscribe button below, you agree to SC Media Terms and Conditions and Privacy Policy.