FBI Says Total On-Line Fraud Exceeds $100M and Continues to Grow

What's happening: The FBI has issued a new warning about the magnitude of online bank fraud. The amount lost so far now exceeds $100 Million.

What it means: The magnitude of the threat to business continues to increase as cyber-criminals continue to steal money from small and medium sized businesses, not-for-profits, and educational institutions.

What to do: Make sure all defenses are in place. Consult our guides for specific advice.

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From IDG News Service: FBI warns of $100M cyber-threat to small business

Cyberthieves are hacking into small- and medium-sized organizations every week and stealing millions of dollars in an ongoing scam that has moved about $100 million out of U.S. bank accounts, the FBI warned Tuesday.

It's now one of the top problems being addressed by the National Cyber Forensics and Training Alliance (NCFTA), which works with the FBI and industry to share information about cyberattacks, said NCFTA Executive Director Ron Plesco. "Every year there seems to be a trend and this has been the trend this year," he said.

There has been a "significant increase" in what's known as ACH (automated clearinghouse) fraud over the past few months, much of it targeting small businesses, municipal governments and schools, the FBI said in an alert posted to its Web site.

http://www.computerworld.com/s/article/9140308/FBI_warns_of_100M_cyber_threat_to_small_business?taxonomyId=142