Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Cyber crooks hit businesses with CU accounts
WASHINGTON (5/2/11)--A new trend in international cyber crime is targeting businesses that have accounts at credit unions and small community banks, said the Federal Bureau of Investigation (FBI). The scheme uses compromised online banking credentials of small to medium-sized U.S. businesses to send unauthorized wire transfers to apparently legitimately licensed economic and trade companies in Heilongjiang province, a remote region of China near the Russian border (CNN Wire and Life is a Highway April 29). The crooks have successfully stolen at least $11 million, although the attempted fraud amount is about $20 million, according to the FBI's Internet Crime Complaint Center. The targeted businesses generally have accounts at local community banks and credit unions, some of which use third-party providers for online banking services. The crooks gain access through compromising the computer of an unsuspecting company employee. The FBI identified 20 incidents between March 2010 and April 2011 using the scheme.
Other Resources

RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
1 Day ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
1 Day ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
1 Day ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
1 Day ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
1 Day ago