F&F Tire reports online theft
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JANESVILLE — F&F Tire, 3108 N. Pontiac Drive, reported an online computer theft of $46,200 from its bank account through an online banking transaction.
The business reported the loss at 2:51 p.m. Friday, according to a police report.
It’s possible the theft was committed by an out-of-state thief living in either Texas or Missouri, the report said.
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By GAZETTE STAFF 07/22/08
Jan 31, 2008 at 11:02 p.m.
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I'll make an informed decision about online banking (which I am have been doing for over 20 years) when an investigation is complete and it's determined HOW this theft was accomplished. Was it lax security on F&F's part or did some thief indeed exploit some new loophole that wasn't F&F's fault? Will we ever find out? Like the popular rag says, "I want to know!"
Jan 31, 2008 at 4:57 p.m.
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Obviously "online banking" by itself is not the cause.
F&F should have a computer expert check the PCs used by all its financial employees (even at home) to make sure none of them were "phished" -- induced to give up their passwords to a fake bank website.
The investigation is unlikely to recover the money, which was most likely transferred to one or more accounts which were also "phished", until it could be withdrawn as cash or otherwise laundered. Chances are good that it ultimately went to someplace like Russia.
Jan 31, 2008 at 2:23 p.m.
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What about the thefts in traditional banking?
Does that mean NO banking should be done?
Keep your money under a mattress.
Jan 31, 2008 at 2:13 p.m.
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This is why banking on-line should not be done.
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