Dark Reading has published an article looking at online banking fraud, focused on commercial bank accounts. It’s estimated that losses to US companies from online banking fraud (trojans and phishing) will hit $1 Billion in the next 12 – 18 months.

European cyber criminals have used sophisticated malware that infected computers at the Catholic Diocese of Des Moines, Iowa, last week. They accessed the Church’s online bank accounts, and wired out $600,000 to money mules, who then sent the money out of the country. Money mules were recruited by fake online job advertisements. They were told [...]