By Jaikumar Vijayan
October 4, 2010
The indictments unveiled last week against dozens of people who
allegedly helped loot millions of dollars from U.S. businesses via
online corporate account takeovers highlights the struggle by financial
firms to fight fraud.
Over the past two years, corporate account takeovers by cybercriminals
have cost U.S. businesses more than $100 million, according to FBI
In most cases, the thefts have been perpetrated by gangs in Eastern
Europe who used the Zeus banking Trojan to break into computers
belonging mainly to small businesses and small municipalities in the
U.S. The malware has been used to steal online banking credentials and
access corporate accounts so the thieves could transfer money into
fraudulent accounts set up by hundreds of U.S.-based accomplices, often
called "money mules."
Most of the illegal transfers were unauthorized Automated Clearing House
(ACH) transactions from the victim's account to the money mule.
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