StateScoop reported:
A business email compromise cyberattack has cost the small town on Arlington, Massachusetts, more than $445,000.
“Through what is known as a business email compromise,” he wrote, “perpetrators used phishing, spoofing, social engineering, and compromised email accounts to ultimately facilitate wire fraud totaling $445,945.73.”
“They seized the opportunity to impersonate the vendor with an email domain that appeared genuine,” the statement read, “requesting a change in their payment method from check to electronic funds transfer.”
Once the new payment method was established, the town made four monthly payments — from last October to January — to what they believed was the vendor’s account. In February, the vendor reported it had not received the payments.
A business email compromise cyberattack has cost the small town on Arlington, Massachusetts, more than $445,000.
“Through what is known as a business email compromise,” he wrote, “perpetrators used phishing, spoofing, social engineering, and compromised email accounts to ultimately facilitate wire fraud totaling $445,945.73.”
“They seized the opportunity to impersonate the vendor with an email domain that appeared genuine,” the statement read, “requesting a change in their payment method from check to electronic funds transfer.”
Once the new payment method was established, the town made four monthly payments — from last October to January — to what they believed was the vendor’s account. In February, the vendor reported it had not received the payments.
Find the original article 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