Hackers Steal Millions From Mexican Banks In Transfer Heist (reuters.com)

happyfeet2000 shares a report from Reuters: Thieves siphoned hundreds of millions of pesos out of Mexican banks, including No. 2 Banorte, by creating phantom orders that wired funds to bogus accounts and promptly withdrew the money, two sources close to the government's investigation said. Hackers sent hundreds of false orders to move amounts ranging from tens of thousands to hundreds of thousands of pesos from banks including Banorte, to fake accounts in other banks, the sources said, and accomplices then emptied the accounts in cash withdrawals in dozens of branch offices. The total amount is estimated to be as much as $20 million (~400 million pesos).

Comments

It's good work I guess...

[bobbied]

It's good work, if you can get it.

So.. They didn't have withdraw controls on newly minted accounts that just got funded electronically? They didn't require ID's either? What about verifying you know who's creating these electronic transactions? No?

Shesh, this is lax security. I'm not saying the banks deserved to be fleeced, but if you cannot be bothered with the minimum of security practices, I'm going to find it hard to shed many tears about your bad luck. Then there is the whole, you don't know who's initiating this transactions electronically so you cannot hold them responsible?

All I can say is.. I don't want to be a bank...