The 420 reported:
Yavapai County recovered all but $18,787 of the $868,982.14 redirected by scammers posing as a road paving vendor.$18,787 remains unrecovered of the $868,982.14 that Yavapai County briefly lost after it fell prey to a business email compromise scam earlier this year.
Scammers had hijacked the vendor’s email and sent a routine-looking payment change request. No county systems were hacked; and the funds were wired to what appeared to be the vendor’s new account.
Scammers had hijacked the vendor’s email and sent a routine-looking payment change request. No county systems were hacked; and the funds were wired to what appeared to be the vendor’s new account.
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