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DO YOU THINK YOUR MONEY IS SAFE IN THE BANK? NOT FOR COMMERCIAL ACCOUNTS!

If you have a personal bank account, yes, your money is safe from online banking fraud. Federal regulations compel banks to make good on losses to personal accounts, however they occur. But the same is not true of commercial accounts that are accessed online. Over 40 million dollars were stolen from small business accounts in 2009, and the FDIC says that this crime grew 5X in the last 12 months! View the IC3 2009 Annual Report Here (PDF) Cities, school districts, public libraries, and small businesses—by now, every type of small or medium-sized organization has been victimized by the eastern European hacker gangs behind this frightening new crime wave. The FBI is tracking over 300 cases!

The bad guys target accounts at small- and medium-sized banks, which, they have learned, do not have the advanced online banking cyber-fraud controls of the very largest banks. Nor do most of these banks take responsibility for allowing these attacks to happen. Instead of adopted more sophisticated fraud controls, they have chosen to dump the losses on their randomly-unlucky customers!

Your organization’s accounts could be next!

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