http://www.networkworld.com/news/2010/061710-online-banking.html By Ellen Messmer Network World June 17, 2010 In online banking and payments, customers' PCs have become the Achilles' heel of the financial industry as cyber-crooks remotely take control of the computers to make unauthorized funds transfers, often to faraway places. That's what happened to the town of Poughkeepsie in New York earlier this year to the tune of $378,000 carried out in four unauthorized funds transfers from the town's account at TD Bank. First discovered in January, the town was able to finally get the full lost amount restored by March, according to public records, through sometimes tense interaction with the bank. Though the town declines to discuss the matter, this high-dollar cyberheist, along with a slew of other incidents in the past year, has many bank officials worried. They're concerned that the customer desktop, especially in business banking where dollar amounts are high, is increasingly the weak link in the chain of trust. Other cyberheists that have reached the public eye include Hillary Machinery of Plano, Texas, for $801,495; Patco Construction for $588,000; Unique Industrial for $1.2 million; and Ferma Corp. for $447,000. Schools and churches aren't immune, either. One FBI report from late last year said the agency gets several new victim complaints each week. [...] _________________________________________________________________ Attend Black Hat USA 2010, hosted at Caesars Palace in Las Vegas, Nevada July 24-29th, offering over 60 training sessions and 11 tracks of Briefings from security industry elite. To sign up visit http://www.blackhat.comReceived on Thu Jun 17 2010 - 22:49:12 PDT
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