Blog | G5 Cyber Security

N.Y. Firm Faces Bankruptcy from $164,000 E-Banking Loss Krebs on Security

A New York marketing firm that as recently as two weeks ago was preparing to be acquired now is facing bankruptcy from a computer virus infection that cost the company more than $164,000. Unknown thieves made five wire transfers out of the account to two individuals and two companies with whom the company had never had any prior business. Banks are under no obligation to reimburse commercial customers victimized by cyber fraud. Most banks will work with commercial customers to try and reverse any fraudulent transfers, but the chances of that succeeding diminish rapidly after the first 24 hours following unauthorized activity.”]

Source: https://krebsonsecurity.com/2010/02/n-y-firm-faces-bankruptcy-from-164000-e-banking-loss/

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