N.Y. Firm Faces Bankruptcy from $164,000 E-Banking Loss
Brian Krebs has a piece reminding us that businesses don’t have the same protection as individuals when bank accounts are hit by fraud and/or when the cause of the breach is that the user’s system was infected by malware:
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.
Karen McCarthy, owner of Merrick, N.Y. based Little & King LLC, a small promotions company, discovered on Monday, Feb. 15 that her firm’s bank account had been emptied the previous Friday. McCarthy said she immediately called her bank – Cherry Hill, N.J. based TD Bank – and learned that between Feb. 10 and Feb. 12, unknown thieves had made five wire transfers out of the account to two individuals and two companies with whom the McCarthys had never had any prior business.
Read more on KrebsonSecurity.com