N.Y. Firm Faces Bankruptcy from $164,000 E-Banking Loss
Summary: A New York marketing firm, Little & King LLC, lost more than $164,000 after the ZeuS Trojan infected the owner's Windows PC and thieves made five wire transfers from the company's TD Bank account between Feb. 10 and Feb. 12, 2010. TD Bank told owner Karen McCarthy it bears no responsibility because her computer was compromised, and she says the loss has left her facing bankruptcy and the collapse of a pending acquisition.
What's compelling: Businesses do not get the consumer protections that cover online banking fraud, and banks are under no obligation to reimburse commercial customers - the chances of reversing fraudulent transfers drop sharply after the first 24 hours. A single infected PC and five wires were enough to put a company with a buyer lined up on the path to bankruptcy.
Read the original at Krebs on Security ↗
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