A nine-person Californian escrow firm lost $1.5 million in three electronic transfers in December 2012 and January 2013, and has subsequently been closed down by state regulators. The culprit? A remote access Trojan horse program that was installed on the computer that they used for online banking. The money disappeared into Russia and China, and only the Russian transaction has been recovered so far.
You can read the entire sad story on Sophos, but the important takeaways follow.
First, while ...Continue Reading →