Hackers Steal $150,000 from Mich. Insurance Firm
Summary: United Shortline Insurance Service, a Port Austin, Michigan insurer serving the railroad industry, lost nearly $150,000 after its controller's computer was infected with the ZeuS banking Trojan, discovered February 5. After a call from Tinker Federal Credit Union about a suspicious transfer just under $10,000, the firm found 14 other unauthorized transfers from its account, with the thieves moving money from its trust account to its operating account and answering the bank's challenge questions with detailed personal information.
What you should know: Businesses have no liability cap for fraudulent transfers the way consumers do, and the odds of reversing a transfer drop sharply after the first 24 hours; United Shortline has recovered only a little more than half the money.
Read the original at Krebs on Security ↗
- Topics
- Data Breaches
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