Portland Public Schools in Oregon is on track to recover roughly $2.9 million wired by employees to a BEC scammer. BEC (also known as EAC, short for Email Account Compromise) fraud schemes are scams through which fraudsters attempt to trick one or more employees of a targeted organization into wiring them money. These attacks are successful because the crooks pose as entities the organization’s staff trusts like the company’s CEO or a trusted business partner, with the legitimate bank accounts being surreptitiously swapped with attacker-controlled ones.
Source: https://www.bleepingcomputer.com/news/security/portland-public-schools-recovers-29-million-lost-in-bec-scam/