“The trap began with a routine bureaucratic ritual: the head of a family-run contracting company and a small town public-works director trading emails about when the municipality would cut a six-figure check for utility work,” the Wall Street Journal reports.
“But lurking online, a cybercriminal pounced with staggering ease. Someone posing as a company employee emailed the director to request an electronic transfer instead. Days later, the town sent $545,598.30 to a Utah bank account that wasn’t the company’s.”
“Surfside Beach had fallen victim to a ‘business email compromise’ scam, a cyber-swindle that cost $3 billion nationally last year, the Federal Bureau of Investigation says.”
“In such ruses, fraudsters fool people with malicious software, phishing emails or tweaked digital addresses. Once in, they can spot legitimate email threads about invoices and business matters.”
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