The SFGate reported:
An East Bay city was recently targeted in a phishing scheme that resulted in a loss of nearly $1 million, officials said.
The attack, allegedly orchestrated by someone in Nigeria, occurred in February and involved an unauthorized payment of $913,839.81, Sara Bellfronte, the assistant to the city manager, said in a statement Wednesday. The single payment was made when a fraudulent account impersonated a city vendor.
The city has been able to recover $696,241 of the funds, but there are still pending insurance claims for the rest of the money, Bellfronte said.
The attack, allegedly orchestrated by someone in Nigeria, occurred in February and involved an unauthorized payment of $913,839.81, Sara Bellfronte, the assistant to the city manager, said in a statement Wednesday. The single payment was made when a fraudulent account impersonated a city vendor.
The city has been able to recover $696,241 of the funds, but there are still pending insurance claims for the rest of the money, Bellfronte said.
Find the original article here.
Takeaway: Have a separate process for remittance changes that includes controls, validations, authentication and best practices. Review the email to see if there are any red flags. Use an AI Tool to help. Check out the training session to see how to use Microsoft Copilot to spot red flags in an email or your inbox.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Takeaway: Have a separate process for remittance changes that includes controls, validations, authentication and best practices. Review the email to see if there are any red flags. Use an AI Tool to help. Check out the training session to see how to use Microsoft Copilot to spot red flags in an email or your inbox.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat