European Cyber-Gangs Target Small U.S. Firms, Group Says

Organized cyber-gangs in Eastern Europe are increasingly preying on small and mid-size companies in the United States, setting off a multimillion-dollar online crime wave that has begun to worry the nation’s largest financial institutions.A task force representing the financial industry sent out an alert Friday outlining the problem and urging its members to implement many of the precautions now used to detect consumer bank and credit card fraud. see:Cyber crooks increasingly target small business accounts
An organization representing more than 15,000 financial institutions has issued a warning about a growing wave of attacks against small banks and businesses by cyber criminals using stolen banking credentials to plunder corporate accounts.In an alert to its members earlier this month, NACHA — the Electronics Payments Association said that attackers are increasingly stealing onine banking credentials, such as user names and paswords, from small businesses by using keystroke logging tools and other malware. The cyber criminals are using the stolen credentials to ‘raid’ and ‘take over’ corporate accounts and initiate the unauthorized transfer of funds over electronic payment networks.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.