NJ: Hackers Steal $240K From Mahwah Businessman’s Bank Account
Sean Adams reports:
In Mahwah, hackers set their sights on a local businessman and obtained enough of his personal information to convince his bank to wire $240,000 overseas.
Police Chief James Batelli said they even hijacked the man’s phone number, so when the bank called to verify “That is call forwarded to Brussels and the person on that end answers all the proper security questions, which was social security numbers, mother’s maiden name, hospital they were born in; and the bank thinks they’re talking to the person authorized to allow that transfer to go through.”[…]
Okay, so the bank attempted to verify with a phone call, but the clever hackers subverted that authorization method. Is the bank responsible for the loss and replacing the funds in the customer’s account or not?