The FBI is investigating more than 400 cyber hijackings of corporate bank accounts, after cyber criminals have taken over the accounts of American companies, school districts and even some local government offices and made unauthorized wire transfers. Thieves, so far, have gotten away with more than $80 million dollars using this kind of attack.

The assistant director of the FBI’s cyber division, Gordon Snow, told a House subcommittee that these cyber attacks are usually the result of a targeted phishing attack.

This story is part of Federal News Radio’s daily Cybersecurity Update. For more cybersecurity news, click here.

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