This is the bi-weekly IT newsletter for the College of Ag Sciences, Penn State University

Thursday, March 11, 2010

All Interest: N.Y. Firm Faces Bankruptcy from $164,000 E-Banking Loss

"A New York marketing firm that as recently as two weeks ago was preparing to be acquired now is facing bankruptcy from a computer virus infection that cost the company more than $164,000.

Karen McCarthy, owner of Merrick, N.Y. based Little & King LLC, a small promotions company, discovered on Monday, Feb. 15 that her firm’s bank account had been emptied the previous Friday. McCarthy said she immediately called her bank – Cherry Hill, N.J. based TD Bank – and learned that between Feb. 10 and Feb. 12, unknown thieves had made five wire transfers out of the account to two individuals and two companies with whom the McCarthys had never had any prior business.

“She was told to go to the branch next day, and she did, and the people at the branch were very nice, apologetic, and said, ‘Whatever happened, we’ll replace it,’” Karen McCarthy’s husband Craig said. “She called them up on Wednesday, and they gave her the runaround. Then she finally got to talk to someone and they said ‘We don’t see the error on our side.’” "

To read the rest of this Feb 24, 2010 article, please go here:

http://www.krebsonsecurity.com/2010/02/n-y-firm-faces-bankruptcy-from-164000-e-banking-loss/

Vince Verbeke, IT Specialist

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