London: Amazon.com Inc. was hit by an 'extensive' fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year. Amazon believes it was the victim of a 'serious' online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales into their own bank accounts, according to a UK legal document. The filing doesn’t say how the suspected wrongdoers were able to add details of additional banks to the merchant accounts. The Amazon units named in the filing include Amazon Capital Services U.K. Ltd., which makes loans available to sellers for up to one year. Amazon said Tuesday that it issued more than $1 billion in loans to merchants in 2018.

Source: Mint May 08, 2019 17:03 UTC