Scammers Transfer $11 Million Stolen from SMBs to China
Attackers attempted to wire more than $20 million stolen from SMB accounts to accounts in China over the past year and managed to successfully transfer $11 million, according to the FBI.Scammers successfully transferred more than $11 million stolen from small and midsize businesses to companies in China in the past year, according to the FBI. Cyber-criminals stole banking credentials from companies and public institutions in the United States to fraudulently wire millions of dollars to Chinese companies, warned the FBI in a fraud alert issued April 26. There were 20 such incidents between March 2010 and April 2011, where the attackers attempted to steal $20 million and succeeded in stealing about $11 million, according to the federal agency.
In most cases, the thieves use phishing emails or rogue Websites loaded with data-stealing malware to compromise the computer of someone within the targeted company. When the victim, who generally has the authority to initiate funds transfers, tries to log into the Website, he or she is redirected to a page claiming the site is under maintenance.