The Seattle Times reported:
The Port of Seattle nearly lost more than half a million dollars to a pair of phishing emails two years ago, prompting an audit that dinged the Port for lacking oversight over electronic payments.
The state auditor’s office noted in its report that staff did not “consistently or adequately” follow preexisting procedures to protect electronic funds transfers and missed “key red flags” for phishing schemes, like misspellings in the email address and body, and the bank declining transfers due to closed accounts.
“Despite the robustness of controls in place, the human element can become a factor in any well-designed internal control environment,” the Port said in the report.Port spokesperson Peter McGraw said the Port quickly took steps to tighten its payment procedures to prevent future attempts of theft.
Find the original article and read more here.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
The Port of Seattle nearly lost more than half a million dollars to a pair of phishing emails two years ago, prompting an audit that dinged the Port for lacking oversight over electronic payments.
The state auditor’s office noted in its report that staff did not “consistently or adequately” follow preexisting procedures to protect electronic funds transfers and missed “key red flags” for phishing schemes, like misspellings in the email address and body, and the bank declining transfers due to closed accounts.
“Despite the robustness of controls in place, the human element can become a factor in any well-designed internal control environment,” the Port said in the report.Port spokesperson Peter McGraw said the Port quickly took steps to tighten its payment procedures to prevent future attempts of theft.
Find the original article and read more here.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat