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New cyber threat siphons government money

November 19, 2009 - 10:45am

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Nov. 19, 2009 -- Federal Security Spotlight this week hosts a return visit from Rodney Joffe, the chief technologist for Neustar of Sterling, Va.

He has been making the rounds of law enforcement agencies and Capitol Hill with a new report on a new threat.

So-called man-in-the-middle malware is being launched on private and governmental networks with the aim of stealing credentials to access automated clearing houses.

The ACH attack is resulting in lost funds, including state and local governments to the tune of tens of millions of dollars.

Because the thieves use valid credentials, victims are out of luck when seeking help from their banks.

Joffe also says, there is evidence that federal networks are infected.

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