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FBI Claims Chinese Hackers Targeting US Based Small And Medium Businesses

Chinese hackers have stolen $11 million from US based small and medium sized companies in the past one year, it has been revealed.

According to a highly detailed report released by the US Federal Bureau of Investigation, Chinese stole banking credentials and other financial information from SMBs and wired the stolen money to China based economic and trade companies.

The FBI claimed that it had identified 20 individual cases in which US based SMBs had their money stolen. The investigation also revealed that hackers attempted to steal $20 million from companies during 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wire transfers range from $200 to $200,000” the FBI said, revealing that when the stolen money was transferred, it was withdrawn or transferred elsewhere.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 read (opens in new tab).

The FBI report indicates that China is fast turning into a hub for malicious hackers and online thieves. The country has already been accused of hacking into Gmail accounts and even blocking and monitoring its web traffic by Google.

Ravi Mandalia

Ravi Mandalla was ITProPortal's Sub Editor (and a contributing writer) for two years from 2011. Based in Ahmedabad, India, Ravi is now the owner and founder of Parity Media Pvt. Ltd., a news and media company, which specializes in online publishing, technology news and analysis, reviews, web site traffic growth, web site UI. Ravi lists his specialist subjects as: Enterprise, IT, Technology, Gadgets, Business, High Net Worth Individuals, Online Publishing, Advertising, Marketing, Social Media, News, Reviews, Audio, Video, and Multi-Media. He has also previously worked as Dy. Manager - IT Security at (n)Code Solutions.