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Account Takeover Issues Wire Transactions in the Millions
Able Company experienced a cyber-account takeover committed through malicious software installed on their computers when the perpetrator hijacked the customer’s online banking system session. The malicious software was able to obtain session credentials for creating and approving templates and wires, because the same computer was used by two separate users to approve both the template and the transaction. During the hijacked session the perpetrator created several wire templates and originated multiple wire transactions totaling millions of dollars.
Able Company experienced a cyber-account takeover committed through malicious software installed on their computers when the perpetrator hijacked the customer’s online banking system session. The malicious software was able to obtain session credentials for creating and approving templates and wires, because the same computer was used by two separate users to approve both the template and the transaction. During the hijacked session the perpetrator created several wire templates and originated multiple wire transactions totaling millions of dollars.
