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 Thursday, August 13, 2009

Fraudsters are taking advantage of the widely used but obscure Automated Clearing House (ACH) Network in order to pull off their attacks. This financial network is used by financial institutions to handle direct deposits, checks, bill payments and cash transfers between businesses and individuals.

The fraud typically starts with a targeted phishing e-mail, aimed at whomever is in charge of the company's checkbook. By tricking the victim into running software, opening a harmful attachment or visiting a malicious Web site, the criminals are able to install keylogging software and steal bank account passwords.

 

(Source: ComputerWorld)

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ComputerWorld