The City of Maryland announced:
The City of Frederick today has announced its recovery from a phishing and wire fraud attack in November 2023. This phishing email, orchestrated by unidentified perpetrators posing as a legitimate city vendor, led to the fraudulent transfer of approximately $280,000 of city funds.
The City was able to recover the stolen funds through its insurance provider, less the $50,000 insurance deductible.
As a result of this incident, The City has also implemented a new layer of vendor verification to better protect itself against potential future attacks.
The City of Frederick today has announced its recovery from a phishing and wire fraud attack in November 2023. This phishing email, orchestrated by unidentified perpetrators posing as a legitimate city vendor, led to the fraudulent transfer of approximately $280,000 of city funds.
The City was able to recover the stolen funds through its insurance provider, less the $50,000 insurance deductible.
As a result of this incident, The City has also implemented a new layer of vendor verification to better protect itself against potential future attacks.
Find the announcement here.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat