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Cyber crimes in the financial sector
- Source: Freedom from Fear, Volume 2009, Issue 4, Jul 2009, p. 4 - 5
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- 11 Jul 2009
Abstract
A few months ago Ian Rowan reported at Switched.com the news of a computer consultant who siphoned $1M USD from a Utah Bank. Mementosecurity commented the article on April 27th explaining how “An IT contractor hired to fix some bugs in a recent computer upgrade used his system access to make fraudulent electronic transfers into accounts under his control. He allegedly used the funds to remodel his home, pay off his two car notes, and cover a few mortgage payments. The fraud came to light when his business partner reported the suspicious transactions.”
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