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Small Business with No Working Website Closes After Cyberattack
As reported by the Wall Street Journal in its Morning Risk Report, cyber thieves ran roughly 100,000 stolen card numbers through the payment system of Innovative Higher Ed Consulting Inc., a small startup in New York with little/no internet presence. Shortly after it alerted Bank of America Merchant Services, the startup’s payment processor, the company was hit with a $27,000 bill for reversing the charges. Those charges, which greatly exceeded the company’s revenue, forced its founders to ‘close up shop’.
Alas, another cautionary tale on the far-reaching impact of cyberattacks. Click link for the full story.
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