Organized Crime Group Scams US Companies Out Of Millions

  • 28 April 2014
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Social engineering attack tricks companies into large wire transfers.
An organized crime group has spent the last month defrauding US companies, fooling them into making large wire transfers into fake partners' accounts.
According to a blog posted Friday by researchers at security firm TrustedSec, the crime group is conducting "a major offensive" against US firms using a sophisticated social engineering attack that appears to be a request for funds from one of the victim companies' legitimate partners. The attacks have a high rate of success, often fooling enterprises into sending amounts of $50,000 to $1 million, the blog says.
 
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They scammed some companies out of a million dollars!  That's incredible.

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