9/3/2009

Organized crime groups in Eastern Europe have hit small and midsize businesses in the U.S. with multimillion-dollar losses by using unauthorized electronic fund transfers to take money from their bank accounts. "In the past six months, financial institutions, security companies, the media and law enforcement agencies are all reporting a significant increase in funds transfer fraud involving the exploitation of valid banking credentials belonging to small and medium sized businesses," according to an alert sent to financial companies.

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