Anatomy of an Online Fraud

A Cyberscammer's Malicious Steps

By Jean-François Legault

Digital Fingerprints
A Closer Look at Technology and Fraud



In the May/June 2010 column, I discussed banking Trojans and their impact on online banking, as well as automated clearinghouse and wire transfer transactions. In October 2010, the FBI issued a fraud alert warning of corporate account takeovers. "Cyber criminals are targeting the financial accounts of owners and employees of small- and medium-sized businesses," the FBI announced, "resulting in significant business disruption and substantial monetary losses due to fraudulent transfers from these accounts."


So, what is happening? It seems that more and more businesses, big and small, are faced with cyberthreats. In this column, we will dissect how these attacks occur and how these online fraudsters operate.


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