The WAAY 31 reported:
The City of Arab lost more than $400,000 after falling victim to a phishing scam in which someone posing as a contractor for the city’s new parks and recreation center sent a fraudulent invoice.
The City of Arab lost more than $400,000 after falling victim to a phishing scam in which someone posing as a contractor for the city’s new parks and recreation center sent a fraudulent invoice.
“It appeared to be an invoice from Fite and that was paid out from there,” said Arab Police Chief Shane Washburn. “We’re still looking to see exactly where it originated from, and I think the reason it may be a suspect or ‘suspects’ is because it could be a group of individuals that carried this out.”
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