How One Letter Almost Lost a Company $2.5 Million

2019-07-10 12:51:52 - Hackensack, NJ - (PR Distribution™)

A routine transaction was intercepted by hackers and almost cost a firm $2.5 million dollars. A NJ Datacenter company managed to stop this, just in time.

What started as a typical working day for Carroll-Net, the NJ based data protection company soon turned into a crucial race to save millions of dollars. A client needed to wire a large sum via a bank transaction. A request to redirect the wire on the day of the close concerned the CEO of the client. A call to Carroll-Net would play a crucial role in saving the situation. 

An investigation by Carroll-Net engineers uncovered the truth. Hackers managed to break into an employee's e-mail at the company who was to receive the wire. They copied all the correspondence and set up a new domain that mimicked their domain with one exception; they added the letter 'i'. The hacker's turnaround time on registering the domain and putting the plan into motion was mere hours. 

Carroll-Net was able to uncover the facts and put the transaction back on track. The full details of the incident are on Carroll-Net’s website along with steps business can take to block hackers, see http://carroll.net/hack-a-wire.

Jim Carroll, the President of Carroll-Net commented on the incident “The potential loss of $2.5 million for any company is a gut punch. Unfortunately, incidents like this aren't isolated, and hackers continue to find ways to intercept communications. Businesses must ensure they have the right protection in place”. 

A recent survey found that out of 400 IT professionals surveyed 44% of their organizations suffered a hacking incident in the last 12 months. The average hacking incident costs an organization $1 million. Having real safeguards has never been more critical.

About Carroll-Net

Carroll-Net was founded in 1994 with the singular goal of providing data center services that clients require at a price they can afford. Carroll-Net specializes in serving US Defense Contractors and delivers DFARs and NIST 800-171 data center based services compliant services.

Media Contacts:


Full Name
Jim Carroll
Company
Carroll-Net
Phone Number
(888) 432-1638
Email
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