HOUSTON – A Spring small business owner faces potential closure after cybercriminals siphoned nearly $20,000 from her business bank account, despite following standard security protocols.
Gabriela Clemons, owner of Kumarama Cafe and Retail Shop, discovered the fraudulent wire transfer shortly after logging into her Chase bank account using standard two-factor authentication.
The incident occurred just months after the business opened its doors in October.
“We opened this ourselves with just everything, our savings and a little bit of a loan,” said Clemons, who describes her establishment as a cosplay anime cafe. “There was nothing like that in this area of town.”
What makes this case particularly concerning is that Clemons, a CPA with cybersecurity training, followed recommended security practices. She manually typed the bank’s web address and completed the two-factor authentication process before discovering unauthorized activity.
“I went into my computer, logged in, and typed in my browser www.chase.com,” Clemons explained.
Shortly after accessing her account, she received notification of an unauthorized wire transfer totaling $19,230.
Tim Howard, founder of Fortify Experts, suggests the attack likely originated from a threat already present on Clemons’ computer.
“If she typed in the Chase.com address, it’s possible that there was an attacker already in her laptop watching what was going on,” Howard said.
Cybersecurity experts recommend implementing endpoint protection as an additional security layer.
“You need really strong endpoint protection which is constantly monitoring,” Howard explained. “It’s like an additional layer that prevents somebody from just living in your system.”
The financial loss has forced Kumarama to make difficult operational decisions. Clemons says that Chase has indicated they won’t reimburse the stolen funds, leading to:
- Reduced hours for her sole employee
- Canceled inventory shipments
- Uncertain business sustainability
Protecting your business from wire fraud
Howard recommends these essential steps for business owners:
- Install robust endpoint protection software
- Implement secure login protocols
- Use additional security layers for financial transactions
- Regularly monitor account activity for unauthorized transactions
- Create unique passwords for different logins and store them in a secure password app.
For more information on end point protection, visit fortifyexperts.com.
