Company's bank accounts cleaned out; bank sues company.

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Late last year, the bank account of an outfit in Texas called Hillary Machinery, Inc. was siphoned to the tune of $800kus after their online banking credentials were compromised. The bank they did business with, PlainsCapital, required customers to supply a username and passphrase and then enter a single-use passphrase e-mailed to a certain address a few minutes later to complete the authentication process. Investigation showed that IP addresses roughly corresponding to networks in Italy and Romania were used to initiate the transfer of funds to bank accounts in the Russian Federation and Eastern Europe. From this evidence, it seems …

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