FBI warns U.S. small and medium businesses to be on the lookout for online account takeovers and fraudulent Automated Clearing House transactions. The FBI identified at least 20 incidents in which cybercriminals compromised the SMBs’ banking credentials of SMBs and used them to electronically wire money to accounts held by “Chinese economic and trade companies” The illegal wire transfers have ranged from $50,000 to $985,000, with the majority being involving sums or more than $900,000. In all, the crooks have attempted to steal $20 million in the past month from SMBs.”]

