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
- 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.