Jun 9 / Admin

New Scam Alert: BEC Victim Loses $700K In a 2nd Fraud Incident in 3 Years


The Philadelphia Citizen reported:

What we do know, based on District-issued press releases as well as Brady’s report and press conference, is that last year, the District made two payments of nearly $700,000 total to “bad actors.” In March 2024, a hacker posed as a trusted vendor and requested payment of $536,000; also that month, a bad actor requested and was paid $126,000. In both cases, the scammers hacked the vendors’ emails and requested a change to the normal payment method, from a paper check mailed at the address on their contracts, to an electronic bank payment to the scammer’s account.

In October, 2022, a similar incident scammed the District out of $500,000 (nearly all of which has been recouped).

Find the original article here.

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