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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.
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