Cyberthieves steal $400,000 from Bank of America

Bank of America

Bank of America

Residents and city workers in Burlington, Wash., have been told to check their accounts after $400,000 was stolen from a city bank account. City officials believe that the security breach resulted from the infiltration of a government account used to pay workers in the town, which is about 65 miles north of Seattle. Although the exact amount of money stolen is not fully tallied, more than $400,000 has been transferred over the past two days, according to Seattle-based KOMO News. The city first learned of the attack after an East Coast bank queried a number of account transfers that appeared “suspicious.” Read the full story at CNET.

Author:

Shelly Palmer

Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).