FBI Warns of Online Scams Stealing Bank Info

Small and medium-size businesses in the U.S. lost more than $11 million over the past year in online scams in which stolen banking credentials were used in fraudulent wire transfers to companies in China, the FBI said. There were 20 such incidents between March 2010 and April 2011, affecting companies and public institutions in the U.S. that tend to have accounts at local community banks and credit unions, some of which use third-party service providers for online banking services, according to the agency.