Fox Business News is reporting that cyber hackers, apparently from Eastern Europe, are stealing money from Bank of America customer accounts in coordinated cyberattacks. The hackers use spearphishing emails to steal employee credentials. Using the stolen credentials they steal customers’ money. They then send fake emails posing as bank administrators approving the wrongful transfers. Finally, the hackers mount a denial of service attack on the bank’s website to distract to stop the bank from catching the fake wire transfers. In same instances the criminals have stolen up to $1,000,000.
You can view the news report here:
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