ACH online theft Wire-transfer-fraud - again...
April 6, 2010 - "... the latest in a string of towns, cities, counties and municipalities across America that have seen their coffers cleaned out by organized thieves who specialize in looting online bank accounts. Recently, crooks stole $100,000 from the New Jersey township of Egg Harbor; $130,000 from a public water utility in Arkansas; $378,000 from a New York town; $160,000 from a Florida public library; $500,000 from a New York middle school district; $415,000 from a Kentucky county... The following day, Bridgeview Bank notified the town that someone had executed two sets of transfers: one automated clearing house (ACH*) batch transfer of seven payments of slightly less than $10,000 to individuals around the country; and a large wire transfer of nearly $30,000. The bank succeeded in stopping the fraudulent wire, but Rivera said the town has all but given up hope that it will retrieve the other $70,000. Bridgeview Bank could not be immediately reached for comment. Looking for advice about what banks and businesses should be doing to help detect and block this type of fraud? Check out this post: E-Banking Guidance for Banks & Businesses**."
Multi-State Information Sharing and Analysis Center
Edited by apluswebmaster, 07 April 2010 - 06:02 AM.