An online banking scam that uses a virus to compromise banking customers' security credentials and wire money from their accounts has stolen $47 million from 30,000 customers at 30 banks in Germany, Holland, Italy and Spain, according to Network World. The scam was reported by two security vendors, Check Point Software Technologies and Versafe, who dubbed it "Eurograbber."
The scam affected both commercial and retail banking customers, transferring from 500 euros to 250,000 euros ($654 to $326,773) out of their accounts. The security firms note that Eurograbber was able to work around security measures involving a transaction authentication number (TAN) sent to the customer's mobile device.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
