Wednesday, November 3, 2010

Cyber Thieves Stealing the City’s Online Banking

Organized cyber thieves took roughly $600,000 from the coastal city of Brigantine, New Jersey this week after stealing the city’s online banking credentials.

The attack occurred in the middle of a week in which federal officials announced dozens of arrests and charges against money mules and the organized criminals responsible for orchestrating these types of break-ins. While it’s unclear whether those responsible for the attack on Brigantine were apprehended or charged this week, the method by which the thieves made off with at least some of the loot bears the same fingerprint as past breaches, including the Egg Harbor attack.

The thieves appear to have obtained a username and password for the city's main TD Bank account either through a phishing site or a keylogger or some other malware. At 6PM on September 28, bank officials notified senior city finance officials that multiple wire transfers had been made out of the city's accounts totaling about $600,000. They have been able to recall about $400,000 of that.

The transfers in such cases go to money mules, individuals who, wittingly or unwittingly, take the transfer into their account and pass on a percentage. This incident was the same week in which, as Krebs puts it "...federal officials announced dozens of arrests and charges against money mules and the organized criminals responsible for orchestrating these types of break-ins."

Monday, November 1, 2010

Living Rich by Spending Smart By Gregory Karp

As The Millionaire Next Door revealed, building wealth isn’t just about working harder or what you choose to invest in: it’s about spending smarter. Now, award-winning Tribune Company personal finance columnist Gregory Karp shows how to do just that.

As The Millionaire Next Door revealed, building wealth isn’t just about working harder or what you choose to invest in: it’s about spending smarter. Now, award-winning Tribune Company personal finance columnist Gregory Karp shows how to do just that.

Gregory Karp is an award-winning, nationally published newspaper journalist. Greg’s column, “Spending Smart,” is consistently among the popular personal finance columns in Tribune Co. newspapers each Sunday. In 2006 the column was named Best Column by the Society of American Business Editors and Writers. Greg’s writing regularly appears in such newspapers as the Chicago Tribune, Newsday, Baltimore Sun,Hartford Courant, Orlando Sentinel, and Allentown (PA) Morning Call. It also appears on the Web sites of such television stations as WPIX in New York, WGN in Chicago, and KTLA in Los Angeles. Greg often writes family money stories for Better Homes and Gardens magazine. He’s a frequent guest on the morning show, Good Day Philadelphia, and appears weekly on RCN-TV in the Lehigh Valley, Pennsylvania. He maintains a blog at themorningcall.com. Greg lives near Yardley, Pennsylvania, with his wife and two sons.