What the Tech: Company Hacks - WPSD Local 6: Your news, weather, and sports authority

What the Tech: Company Hacks

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Hackers have found a new way to steal your money.

The FBI says it is costing companies millions of dollars.

It starts with searching for a company's comptroller or employees who handle billing and payments. The hackers then email them, using the email address of the company's CEO.

"The email said that something has just come up and we need to pay an invoice in the amount of $50,000. That's a normal practice," said FBI Special Agent Scott Augenbaum.

Some companies do business this way. An urgent message from the CEO and a immediate payment.

Hackers have figured this out and been able to get companies to wire them money.

Augenbaum says the best way to stop these hackers is to double check before sending the payment.

"When the controller receives a email that looks like it is from the CEO, if they would pick up the phone and double check, we'd be able to put these bad guys out of business," said Augenbaum.

The FBI is investigating thefts of around $1.2 billion from businesses using this hack.

They say almost all of these attacks are coming from western Europe, Asia, and the former Soviet Union.

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