automated clearing

A recent report suggests that cyber criminals are now setting their sights on small- and medium-sized businesses and institutions. According to an alert posted on the U.S. Federal Bureau of Investigation (FBI) website, there has been a "significant ... increase" in automated clearing house (ACH) fraud over the past few months, targeting small businesses, municipal governments and schools. The FBI believes that about $100 million dollars has moved bank accounts because of this practice. (Source: yahoo.com ) The "weapon of choice" for these fraudsters is online banking and the plan is rather ... (view more)