Fergie's Tech Blog

Cyber Thieves Rob Treasury Credit Union

Brian Krebs:

Organized cyber thieves stole more than $100,000 from a small credit union in Salt Lake City last week, in a brazen online robbery that involved dozens of co-conspirators, KrebsOnSecurity has learned.

In most of the e-banking robberies I’ve written about to date, the victims have been small to mid-sized businesses that had their online bank accounts cleaned out after cyber thieves compromised the organization’s computers. This incident is notable because the entity that was both compromised and robbed was a bank.

The attack began Thursday, May 20, when the unidentified perpetrators started transferring funds out of an internal account at Treasury Credit Union, a financial institution that primarily serves employees of the U.S. Treasury Department in the state of Utah and their families. Treasury Credit Union President Steve Melgar said the thieves made at least 70 transfers before the fraud was stopped.

Melgar declined to say how much money was stolen, stating only that the total amount was likely to be in the “low six-figures.”

posted by Fergie @ 5/27/2010 05:33:00 PM