More than a hundred vendors that offer their products on Amazon have been the target of an extensive cyber-fraud, led by hackers who stole their sales revenue and loan funds from their accounts.
In a legal document that was discovered recently, you can read that Amazon said that the offences occurred between may and October of 2018, and that affected the accounts of around a hundred vendors at the online shopping sites.
Amazon still has not publicly acknowledged this situation, but presumably their investigation into this incident has been completed, so it is expected that they will soon give its position. For his part, Bloomberg, which reports that it has seen the document, said that the giant of electronic commerce, described the fraud as “widespread”.
It is believed that cybercriminals were able to change the details of the accounts of the Amazon sellers on the platform of Seller Central, which allowed funds, loans and profits were diverted into their own accounts.
Amazon has been offering loans to selected vendors in its platform since the year 2011 through its program Amazon Loans. The loans, ranging from $1,000 usd up to $750,000 dollars, are used by marketers to grow their business. The own Amazon data show that in 2018 provided around a trillion dollars (a thousand million) to small and medium-sized businesses on its platform, a figure that suggests that there could have been a significant amount of money in some of the accounts have been targeted by hackers.
It is not clear how the fraudulent activity could continue for six months and attack so many vendors before being detected. According to the report of Bloomberg, the accounts were likely compromised by techniques of phishing or phishing, which tricked the sellers to deliver up confidential information of a login. If so, this would mean that the vendors could have provided inadvertently to hackers a way to carry out their fraudulent activities.
The phishing in the digital age usually implies that the victim ‘click’ on a link in a fake email or an instant message, which leads them to a website where, without knowing it, they give hackers your personal information or logon to online banking services or any other similar service.
Not yet released if up to the time arrests were made in connection with the incidents discovered, nor is it ever revealed how much money was misused in the illegal transfers.
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