Online thieves empty bank accounts

Thursday, 17 June 2004, 12:17 AM EST

Gaining illegal access to checking accounts is increasingly the goal of tech-savvy thieves. In fact, it is the fastest-growing type of financial consumer fraud in the U.S., according to a recent survey by Gartner.

Based on a poll of 5,000 online U.S. adults, the study shows that some 1.98 million consumers have been victimized by checking-account fraud, resulting in US$2.4 billion in losses.

In most cases that are not inside jobs, thieves likely stole account numbers and passwords to access checking accounts online or through telephone-banking services, report author Avivah Litan told NewsFactor.

By Jay Wrolstad at NewsFactor.

[ Read more ]

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