USA TODAY: ….Spoofers often lure a cellphone user into divulging account information via an automated call or text message that appears to come from the user’s bank. Next, the crooks call the bank, spoofing the victim’s phone number and correctly answering security questions to trick the bank employee into transferring cash or issuing credit cards for mailing addresses under the scammer’s control.
Dell SecureWorks estimates small and midsize businesses in the U.S. and Europe lose as much $1 billion a year from online banking accounts. The financial services industry often does not reimburse such losses. “We’d expect business owners to be a bit more savvy and have more resources at their fingertips,” says Carol Kaplan, spokeswoman for the American Bankers Association. “That doesn’t mean we’re not seriously concerned about the problems small businesses are having, and there continues to be huge gobs of investment into shoring up security.”
Results of an ABA survey of 95 financial institutions, released exclusively to USA TODAY, show the number of commercial account takeovers by cybercrooks rose 260% in 2011 vs. 2009. However, the average loss per victimized company decreased 92% during the same period… (more)
