July 15, 2013 BANKING & FINANCIAL, CORPORATE ACCOUNT TAKEOVER

The Business of Corporate Account Takeover

In 2010, some online thieves stole $440,000 from Choice Escrow and Land Title, a real-estate closing business. They stole the corporate online banking account credentials and issued a wire to a bank in Cyprus. To read about it in detail, click here.

On paper, for all intents and purposes, the transaction was perfectly legitimate in that it was issued from the corporate account using legitimate credentials. (Read more)

 

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