Corporate Account Takeover
What is Corporate Account Takeover?
Corporate account takeover is a type of fraud targeting business' finances to make unauthorized transactions, including transferring funds, creating and adding fictitious employees to payroll and stealing sensitive customer information.
Small businesses are being targeted especially since most do not have the same level of resources as larger companies to defend and upgrade their information technology systems. Also, many do not monitor and reconcile their accounts on a daily basis and small businesses may bank with a variety of financial institutions.