By Tim Wilson
Oct 21, 2010
Cybercriminals are targeting the financial accounts of small and midsize
businesses (SMBs), fraudulently transferring money directly from their
accounts, the FBI warned yesterday.
In a fraud alert issued Wednesday, the FBI said "corporate account
takeover" attacks use malware to steal passwords and other credentials
from senior executives at SMBs and then use those credentials to empty
the companies' coffers.
"To obtain access to financial accounts, cyber criminals target
employees--often senior executives or accounting, HR personnel, and
business partners--and cause the targeted individual to spread
[malware], which in turn steals their personal information and log-in
credentials," the FBI says in its full report (PDF).
"Once the account is compromised, the cyber criminal is able to
electronically steal money from business accounts," the report explains.
"Cyber criminals also use various attack methods to exploit check
archiving and verification services that enable them to issue
counterfeit checks, impersonate the customer over the phone to arrange
funds transfers, mimic legitimate communication from the financial
institution to verify transactions, create unauthorized wire transfers
and ACH payments, or initiate other changes to the account."
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