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ACH Fraud Hits Texas County

Friday, December 17, 2010 - 11:55 AM
From Gov Info Security:
A Texas tax assessor's office has lost $200,000 in an ACH fraud corporate account takeover scheme.

It looks like another case of hackers using spyware to steal the login and passwords of the account.

Another interesting news item mentioned in the article is a new bill in the Senate that's intended to extend the Regulation E protections to municipalities and school districts. Currently, Regulation E only applies to consumer accounts. The bill does not address business accounts which will continue to be at the greatest risk of this kind of ACH and wire fraud.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,611