Cyber Thieves Hacking U.S. Accounts, Sending Money to China

Cyber criminals are hacking bank accounts of small-to-medium size businesses in the U.S. and sending unauthorized wire transfers to Chinese economic and trade companies, according to the FBI.

Between March 2010 and April 2011, authorities identified 20 incidents in which the transfers occurred or were attempted, according to a Federal Bureau of Investigation statement today. Hackers attempted to wire about $20 million in stolen funds and succeeded in stealing about $11 million, according to the bureau.