Apr 28 2011
Very interesting report via the Financial Services Information Sharing and Analysis Center, in cooperation with the FBI, on unauthorized wire transfers to China. When I say “interesting,” I mean I don’t understand it…not sure what the implications are, if any. Get the basics of the report, just not sure who the perp is supposed to be? Chinese, Russian, US? So, smart blog reading people help me out. Full PDF report on the unauthorized wire transfers here and the two paragraphs that have me scratching my head:
“The unauthorized wire transfers range from $50,000 to $985,000. In most cases, they tend to be above $900,000, but the malicious actors have been more successful in receiving the funds when the unauthorized wire transfers were under $500,000. When the transfers went through successfully, the money was immediately withdrawn from or transferred out of the recipients’ accounts.
In addition to the large wire transfers, the malicious actors also sent domestic ACH and wire transfers to money mules in the United States within minutes of conducting the overseas transfers. The domestic wire transfers range from $200 to $200,000. The intended recipients are money mules, individuals who the victim company has done business with in the past, and in one instance, a utility company located in another U.S. state. The additional ACH transfers initiated using compromised accounts range from $222,500 to $1,275,000.”
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