BEC Fraudsters Divert $742,000 From Ocala City In Florida – Expert Comments

The City of Ocala in Florida fell victim to a business email compromise scam (BEC) that ended with redirecting over $742,000 to a bank account controlled by the fraudster(s).

The swindle involved a phishing email impersonating an employee of a construction company the city is using to build a new terminal at the Ocala International Airport.


EXPERTS COMMENTS
Tarik Saleh, Senior Security Engineer and Malware Researcher,  DomainTools
November 06, 2019
Mitigating and reducing the risks of BEC attacks are possible.
These type of attacks are an example of low-sophistication with high-reward. BEC attacks commonly involve malicious attachments with appropriate filenames such as ‘Purchase Order’ or ‘Invoice’ and typically are poisoned Office document files. This isn’t always the case though, as some successful BEC attacks can be done via only e-mails with no malware. From a detection perspective, it ....
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