Chinese hackers have swindled $11 million from American small and medium-sized businesses in the past one year, it has been revealed.
According to a highly detailed report released by the US Federal Bureau of Investigation, Chinese hackers stole banking credentials and other financial information from U.S. SMBs and persuaded them to wire wonga to companies based in China,
The FBI said it had uncovered 20 cases in which smsall businesses had been suckered into having their money stolen. The investigation revealed that hackers attempted to steal $20 million from companies between March 2010 and April 2011.
“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wire transfers range from $200 to $200,000” the FBI said, revealing that when the stolen money was transferred, it was withdrawn or transferred elsewhere.
“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 report alleged.