Cyber Attack

A hacker entered a bank’s network by easily passing through its firewalls. While in the bank’s network, the hacker set up three phony accounts and caused the bank to debit each account for $250,000. The hacker then withdrew the money immediately by having it wire transferred to an account in Switzerland. The hacker was never found, and the money was never recovered. Total Cost: $750,000.

InsuranceSwingle Collins