http://www.computerworld.com/s/article/9189201/Money_mule_arrests_highlight_banks_efforts_to_fight_fraud By Jaikumar Vijayan Computerworld 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 estimates. 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. [...] _______________________________________________________ Subscribe to InfoSec News - www.infosecnews.org http://www.infosecnews.org/mailman/listinfo/isnReceived on Mon Oct 04 2010 - 23:11:15 PDT
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