KOB4 reported:
Valencia County loses $2M to scam during new hospital construction.
A scammer reportedly posed as Bradbury Stamm Construction, the contractor for the new Valencia County Hospital in Los Lunas. The county paid over $2 million before discovering the fraud.
“Even with thorough technological training, robust testing as well as internal processes, a mistake happened as a result of human error,” said County Manager Jonathan Aragon in a statement.
A scammer reportedly posed as Bradbury Stamm Construction, the contractor for the new Valencia County Hospital in Los Lunas. The county paid over $2 million before discovering the fraud.
“Even with thorough technological training, robust testing as well as internal processes, a mistake happened as a result of human error,” said County Manager Jonathan Aragon in a statement.
Find the original article here.
Takeaway: Never change remittance information based on an invoice, which can be a fake. Have a separate process for remittance changes that includes controls, validations, authentication and best practices.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Takeaway: Never change remittance information based on an invoice, which can be a fake. Have a separate process for remittance changes that includes controls, validations, authentication and best practices.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat