Tag Archives: FFIEC guidelines

Bank Agrees to Reimburse Company for Funds Taken Through Online Bank Account Theft

By Craig A. Hoffman on December 6, 2012 Posted in Financial Privacy

We reported in July on a First Circuit Court of Appeals decision finding that a bank failed to implement commercially reasonable security methods to prevent unauthorized transfers by a criminal that gained the online banking credentials of a construction company. The criminal was able to steal $345,000 from the construction company’s account. It was then reported on … Continue Reading

Hi-Tech & Low-Tech Social Engineering Used for Corporate Bank Account Takeovers

By Craig A. Hoffman on March 13, 2012 Posted in Identity Theft, Information Security

Hi-Tech Corporate bank accounts continue to be targeted by criminals who use various forms of malware to gain access to the account and then wire money out of the account. One variation of these cyberattacks occurs in the form of a virus that captures corporate online banking credentials combined with a DDoS attack against the … Continue Reading