Yahoo News reported:
Unaware of the scheme, the treasurer's office was duped into wiring two large payments after a person posing as an employee of Peckham Industries contacted their office and requested a payment via a wire transaction. The imposter had provided the exact dollar amount of at least one of the contract invoices during that call.
Find the original article here.
Takeaway: When vendors warn of a potential fraud, add it to the comments on the vendor record. This way if a fraudulent request comes in and another team member or department handles, they will see the comment and not process the request. Also, remittance details for payments handled by Treasury should come from the vendor master file.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
ALBANY - Warren County became the victim of a $3.3 million phishing scheme recently after its treasurer's office had not been informed that a private contractor for the county had warned in July that bad actors may try to trick its customers into wiring payments to fraudulent bank accounts, according to information obtained by the Times Union.
But the information warning about the scheme had not been forwarded to the county treasurer's office, which is tasked with processing payments to vendors and contractors.
But the information warning about the scheme had not been forwarded to the county treasurer's office, which is tasked with processing payments to vendors and contractors.
Unaware of the scheme, the treasurer's office was duped into wiring two large payments after a person posing as an employee of Peckham Industries contacted their office and requested a payment via a wire transaction. The imposter had provided the exact dollar amount of at least one of the contract invoices during that call.
Find the original article here.
Takeaway: When vendors warn of a potential fraud, add it to the comments on the vendor record. This way if a fraudulent request comes in and another team member or department handles, they will see the comment and not process the request. Also, remittance details for payments handled by Treasury should come from the vendor master file.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat