Small Businesses

Home  /  Industry Sector  /  Small Businesses

Recently, PATCO construction was attacked by a Trojan horse virus. The Maine-based construction firm lost approximately $588,000 to a cyber-attack. What the hackers did is they added a Trojan to one of the company’s systems which allowed them to capture online banking credentials and thereafter, the transfer of money from the company’s accounts. Although the money was lost within a period of 7 days, the PATCO’s bank was able to successfully reclaim some of it, eventually reducing the firm’s net loss to at least $345,445. PATCO eventually sued the bank for failure to provide a coherent security process for the money transfers. Initially, the firm lost but later won the appeal.