Business manager had a hacked email account
The bank isn’t always responsible for making you whole after a business email compromise. Indiana’s Lake Ridge Schools lost more than $120,000 from a seven-million-dollar construction fund established to build an athletic complex. The funds were stolen via a wire transfer ordered through a hacked email account. That account belonged to a business manager who was authorized to request payments.
The money was requested in the form of wire transfers to several people thought to be contractors on the project. At the time the wire transfers were requested, the business manager was on vacation and the bank, BNY Mellon had received an out-of-office notification days before.
Email had a different font
Lake Ridge Schools sued BNY Mellon, alleging that the bank’s failure ... Read More
Government shut down does not stop the thieves
Once again we are starting tax season, and Internet thieves are spinning up phishing campaigns to exploit the myriad opportunities afforded by this annual ritual to trick unsuspecting users into coughing up their money, identities, and the credentials to online accounts.
Curiously, these campaigns are proceeding even though the U.S. government is partially shut down, causing widespread confusion over whether the IRS will be sufficiently operational to process tax returns and issue refunds. The bad guys, of course, appear to be facing no operational difficulties and are more than happy to step in to take your refunds, your bank accounts, and your identity.
Although we have not as yet seen the now infamous W-2 phishing campaigns that have plagued previous tax seasons, they are almost ... Read More
California wildfires used for social engineering
Internet thieves are using the California wildfires as a social engineering tactic to trick you into buying gift cards supposedly intended for victims of the disaster, according to James Linton at Agari. The scammers send emails to employees of organizations posing as their CEO.
These CEO Fraud emails target employees who work in accounting, finance, or administration, and tell their recipients to purchase gift cards worth hundreds of dollars to be sent to clients affected by the fires. The employees are instructed to send photos of the codes on the purchased cards, after which the criminals can use online services to convert them into regular currency.
Scammers exploit tragedies
One of the demoralizing byproducts of large-scale tragedies is the tendency for scammers to exploit people’s charitable ... Read More