PORT CITY DAILY reported:
Money intended for a county vendor was lost to cyber criminals over a two-month period.
The financial discrepancy was discovered only after the legitimate vendor — unnamed by the county — notified Pender officials in December that multiple invoice payments had not been received. The scheme began in September when an outside party successfully impersonated the vendor to request a change to the county’s payment details. The county complied and ended up paying $650,000.
Find the original article here.
Takeaway: Don't wait for the vendor to alert you they have not been paid to find the fraud. Verify with the vendor that they received the payment while it's still early enough to recover the funds if needed.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Money intended for a county vendor was lost to cyber criminals over a two-month period.
The financial discrepancy was discovered only after the legitimate vendor — unnamed by the county — notified Pender officials in December that multiple invoice payments had not been received. The scheme began in September when an outside party successfully impersonated the vendor to request a change to the county’s payment details. The county complied and ended up paying $650,000.
Find the original article here.
Takeaway: Don't wait for the vendor to alert you they have not been paid to find the fraud. Verify with the vendor that they received the payment while it's still early enough to recover the funds if needed.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat