Blog | G5 Cyber Security

Colorado Town Wires Over $1 Million to BEC Scammers

Colorado Town of Erie lost more than $1 million to a business email compromise scam (BEC) Scammers used an electronic form on the town’s website to request a change to the payment information on the building contract for Erie Parkway Bridge awarded to SEMA Construction in October 2018. Erie staff did not verify the authenticity of the payment form and sent the money via wire transfer out of the country. The fraud was confirmed on November 5, when Erie staff was alerted by the bank of a possible fraud attempt and the staff was told by SEMA that the payment method request was not made from their end.

Source: https://www.bleepingcomputer.com/news/security/colorado-town-wires-over-1-million-to-bec-scammers/

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