CATO

Corporate Account Takeover (CATO)

A fast growing electronic crime where thieves typically use some form of malware to obtain login credentials to Corporate Online Banking accounts and fraudulently transfer funds from the account(s).

- Domestic and International Wire Transfers

- Business-to-Business ACH payments

- Online Bill Pay and electronic payroll payments have all been used to commit this crime

 

How Do They Do It?

- User contracts malware

- Phishing

- Browsing to an infected website

- Zeus, SpyEye, other Banking Trojans

- Malware waits or is preparing to phone home

- Waits for the user to log into a sensitive site, e.g. Internet Banking

- Steals Login Credentials, sends them to a foreign server

- Piggybacks on an ACH/Wire on Valid Transaction

- Change wire transfer information

- Informs the user that internet banking is not available or initiates a DDoS to the internet banking site.